Customer acquisition is core to any business. It is the starting point of the customer life cycle. Financial service organisations face a particular challenge in this process: For them, turning prospective clients into customers (the business opportunity, so to speak) comes with risk mitigation.
They need to be able to on-board the prospect in an acceptable time frame, but they are also required to adhere to stringent measures in how they on-board and manage new and existing customers. They not only have to protect themselves against money laundering activities, they also have to screen their customers to prevent the occurrence of fraudulent activity.
This calls for an automated solution that is able to:
The Customer Due Diligence solution of Human Inference is based on the DataHub, combining matching, screening and reporting capabilities in one product. DataHub can be configured to match against all required watch lists and other sources (online and batch). In addition, the product creates golden records, allowing organisations to manage and monitor their on-going CDD requirements, as well as creating a single customer view of their customers.
The core of the DataHub lies in fault-tolerant, high precision interpretation & matching methods, providing timely and trustworthy matching results. All customer interactions are recorded through an audit trail, thus providing control and verification of transactions with new and existing customers.
The Customer Due Diligence solution of Human Inference brings together all relevant data to manage risk mitigation and increase business opportunity. It helps financial service organisations to automatically and quickly identify any customer they want to do business with. At the same time, it prevents them doing business with people or companies that pose a potential compliance risk. The solution is aimed at competitiveness and transparency. It allows financial service companies to provide excellent customer experience, to be compliant to a multitude of rules and regulations in an acceptable time frame and to be able to recognise relevant business opportunities. The Human Inference CDD solution is the starting point for being really competitive in a rather complex business environment.
The precursor to effective customer communications and experience starts with truly understanding your customers. We break down the data silos and create a single view of the customer from a variety of formerly disparate data sources; in order to feed systems, processes and analytics. Human Inference solutions then standardize, transform and cleanse that data to create one trusted source of complete, accurate, compliant and enriched data. A source which enables you to make better business decisions and significantly improve your operational efficiency.
Are you struggling to manage the vast amount of data your business collects? With stricter regulations, managing your information effectively is more critical than ever. Luckily, a software solution can help: Master Data Management (MDM).
Don't hesitate to contact us to schedule a brief introductory meeting on how MDM can help your business succeed. Without any other commitments, but with helpful guidance.
Poor data quality costs organizations hundreds of thousands of euros per year. Unreliable data leads to incorrect decisions and inefficient processes.
Fortunately, our data quality checklist allows you to assess in just 5 minutes whether your data meets the 6 data quality dimensions. Please leave your details to download the document instantly.
A robust compliance process is crucial for safeguarding your organization against potential risks. Our team of experts is here to provide you with personalized guidance and the necessary tools to create a future-ready compliance policy, including CDD.
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