Showing 28 results
Ultimate Beneficial Owner
business.
Financial institutions must perform enhanced due diligence to identify and verify who their customers are and where their funding originates, with the goal of...
Identity Verification
Potential customers. Identity verification is a critical part of customer due diligence and involves multiple steps that are data-intensive and heavily...
Payment Screening Alert Disposition
Process millions of payments per year. Rules-based sanctions screening software generates a significant number of alerts but, typically, 98% of these are...
Name Screening Alert Review for Sanctions and Politically Exposed Persons
Conducting efficient enhanced due diligence checks:
Majority of alerts are false positives and must be resolved manually by bank employees
Manual effort...
Adverse Media Monitoring (Negative News Search)
A potential risk of financial crimes. As regulations become tighter and banks are under scrutiny for AML compliance, negative news search has become...
Source of Wealth
enhanced due diligence.
What needs to be improved
The existing process is challenging, involving:
Complex sources and interconnections, including companies...
Foreign Account Tax Compliance Act (FATCA) Screening
customer due diligence efforts.
Failure to comply can lead to penalties.
They can include a 30% tax on all transactions with U.S. banks, and other...
Authorized Signer Management
Efficient.
WorkFusion’s powerful capabilities help banks automate critical elements of this customer due diligence process by:
digitizing documents for ease...
Name Screening Alert Review for Sanctions and PEP in Insurance
Insurance. Alerts generated by screening software and databases. Accuity (RELX Group). Lexis Diligence (LexisNexis). World-Check (Refinitiv). WorldCompliance...
LIBOR Document Grouping
LIBOR Transition. Regulatory Management, KYC & Compliance (Banking). Capital Markets. Banking and Financial Services. Auto loan contracts. Bond...
LIBOR Document Repapering
LIBOR Transition. Regulatory Management, KYC & Compliance (Banking). Capital Markets. Banking and Financial Services. Auto loan contracts. Bond...
LIBOR Document Analysis and Data Extraction
LIBOR Transition. Regulatory Management, KYC & Compliance (Banking). Capital Markets. Banking and Financial Services. Auto loan contracts. Bond...
Mortgage Document Verification
Shorten processing times and enforce standardization and compliance, which improves margins, productivity and customer satisfaction.
What needs to be...
First Notice of Loss (FNOL)
Representatives are hesitant or unable to create claims until a package is complete, due to system or compliance requirements, which further slows the process...