We ensure a 360° customer knowledge
In banking, insurance or real estate, more and more individuals and companies are using online services. However, the increased use of these new digital channels results in increased risks when entering the relationship (fraud, regulatory compliance, litigation).
Contract-based businesses, but also a growing number of digital companies, are exposed to three major risks: fraud, penalties and legal risk.
Identify
Prevent
Avoid
Trusted Third Party at the European level, VIALINK takes a global approach to risk reduction
Automated compliance check of customer records
Simple and secure electronic signature
Automation to reduce risks: BRED Bank case study
BRED Bank has chosen VIALINK platform to comply with KYC regulatory obligations. The regulations imply a deep customer knowledge at the opening of a bank account, especially.
To reduce fraud, corruption, and money laundering, BRED Bank has automated the verification of supporting documents of a customer file.
This process is now digitized and alerts bank advisors in real time of the inconsistencies on a customer file following the business rules set. Thereby, bank advisors rely on the analysis results to decide whether they open the account or not.
Also, all the controls are traceable and auditable through a control report generated automatically after the KYC controls. Thereby, the Bank protects itself from regulatory sanctions.
After a year, we found that we managed to stop 3 to 4% of account openings, which were fraudulent account opening attempts, thanks to KYC checks.