average spending by surveyed FI’s on KYC/CDD procedures

In Thomson Reuters’ recent survey of 722 Financial Institutions, respondents revealed that, on average, their organizations spend an additional $58MM Customer Onboarding and $16MM for technology to support their KYC/Customer Onboarding compliance. With a reported average customer onboarding period of 24 days, the questions are clear – How can onboarding be streamlined? How can customer diligence be transformed? How can deployed technology be leveraged to control and reduce compliance costs?

Attivio’s KYC solution:

  • Unifies data from multiple, existing KYC/CDD/EDD solutions and streamlines the processes of evidence gathering and case review
  • Delivers a risk-adjusted, interactive transaction graph between entities and their counterparties, with customizable drill-down and roll-up logic
  • Combines risk-based scoring with entity search and investigation, by degree of commercial separation

Automate manual processes and reduce the time and cost of compliance. Attivio uses a semantic compliance catalog to gather and organize every relevant piece of customer information, delivering an integrated view directly into your existing KYC/onboarding applications.

of FIs believe that all of their customers proactively provide required, material-change data

If your institution’s customers can’t, or won’t, provide updated information for compliance review, how will you ‘follow the money’? With Attivio’s KYC solution, you have a powerful new tool for discovering and documenting transaction patterns. Using powerful graph-search capabilities, the solution creates a visual ‘transaction chain’ across multiple degrees of commercial separation. Coupled with the with powerful analytic tools that extract elements of meaning from the full range of unstructured information sources, e.g. eMail, social media, chat, etc., compliance professionals can correlate What (transactions) with Who (counterparties) and Why (industry/LoB).

With Attivio, you:

  • Incorporate everything you know – ontologies, taxonomies, dictionaries, and patterns – for classifying entities and transactions
  • Extract, analyze, and correlate from every data source, to achieve insight
  • Visualize and correlate related information –without moving data

Transaction-chains are the new currency. Commercial networks are the new market. Graph-based search is a high-value investment.

of financial institutions cite lack of staff resources as their largest KYC challenge.

How can you meet Board and regulator expectations without a ‘full team’ on the field? Improve the capabilities of every player you have. Attivio’s KYC solution can dramatically reduce the cost of gathering and documenting evidence in your customer compliance processes. Attivio’s solution can explicitly incorporate or serve your existing best practices and processes, reducing the cost of re-training while raising investigative productivity and accuracy.

Improve the accuracy of your KYC compliance by:

  • Gathering a true, 360-degree of evidence
  • Embedding investigation procedures and best-practice tips in every investigator’s screen
  • Reducing the natural variance that exists across investigators

Reducing costs and improving accuracy, simultaneously, Attivio delivers the benefits on both sides of every compliance coin.

Increase your accuracy for ‘true positives’ and reduce your cost of ‘false positives’.

Focus Your KYC Resources

Attivio creates value four ways: 

  • Enabling global deployment and impact,
  • Increasing the information productivity of your compliance professionals,
  • Deploying rapidly and securely
  • Increasing the certainty of your investigative insights.

Attivio puts the benefits of integration, learning, and global reach at the heart of your KYC solutions.

Ask An Architect about KYC

Attivio maintains a team of experienced and friendly Solution Architects, who routinely advise and assist organizations developing their Attivio solutions. We’re confident you’ll ask for a sales representative when you’re organization is ready, but in the meantime, if you’d like to speak with one of our professional ‘smarties’ – they would be happy to discuss your needs and ways you might make your solutions smarter.

Connect me with an Attivio Solution Architect