KYC - Know Your Customer
As a full-featured KYC product, GoldTier enables financial institutions to capture KYC policies and enforce them throughout client onboarding and maintenance processes. The system is diligent enough to enforce global standards while flexible enough to cater to regional regulatory requirements. Its active compliance engine that runs in the background ensures that, once onboarded, customers stay in compliance as their details change, relationships are extended, and policies are amended.
The extensive features list includes:
- Automation of KYC forms and validation rules
- Rules-based automatic generation of data, document and approval requirements
- Capture of complex client ownership structures, related parties and entity cross-linkages
- Re-use of client data and documentation across jurisdictions
- Missing documents and other reports
- Active compliance engine
- Controlled amendments process
- Periodic client profile reviews
- Automated KYC/AML client risk calculation
- Sanction / watch list interfacing
- Risk-based client classification
- Customer profile reports
- Compliance escalations
- Document requirement tracking and imaging
- Document expiration and renewal
- Configurable policy rules and ability to retroactively apply new rules to existing clients
- … and many more