CRISIL helps clients around the world comply with increasingly stringent KYC (Know Your Customer) requirements.
KYC checks are done for all on-boarded new customers and for existing customers on a periodic basis, as the customer profile and associated risk change based on the activities of the customer. Most banks perform this exercise once annually for high-risk customers.
CRISIL GR&RS supports clients in the fields of KYC/CDD (Customer Due Diligence)/EDD (Enhanced Due Diligence) by performing the following activities, based on the risk level of the customer:
Customer Due diligence (CDD)
OFAC/Sanction Checks & Credit Checks
Customer Identification Program (CIP)
Enhanced Due diligence (EDD)
Politically Exposed Person (PEP) Checks
Probabilistic & Deterministic algorithm implementation for various name checks
Watchlists continuously updated against various sanctions and non-sanctions databases like PEPs, SDNs, OFAC Sanctions etc.
Defining and implementing a name-matching tolerance process
Setting up exclusion criteria for the rules and scenarios implemented
CRISIL EDGE
Deep domain expertise in financial crime compliance across financial services businesses
Scalable and flexible operating models customised to suit client requirements
Access to proprietary platforms and automation tools to deliver efficiencies
Global pool of statisticians, database/technology specialists and operations associates with expertise in financial crime compliance activities
A robust data protection and compliance framework that can emulate clients' in-house standards
Global footprint with multi-language support spanning various time zones
Hands-on experience of key vendor tools such as Actimize, Mantas, Norkom, etc. and additional tools such as Teradata/SQL, SAS etc.
Deep understanding of statistical, machine learning, and other analytical techniques
Deep domain expertise in financial crime compliance across financial services businesses
Scalable and flexible operating models customised to suit client requirements
Access to proprietary platforms and automation tools to deliver efficiencies
Global pool of statisticians, database/technology specialists and operations associates with expertise in financial crime compliance activities
A robust data protection and compliance framework that can emulate clients' in-house standards
Global footprint with multi-language support spanning various time zones
Hands-on experience of key vendor tools such as Actimize, Mantas, Norkom, etc. and additional tools such as Teradata/SQL, SAS etc.
Deep understanding of statistical, machine learning, and other analytical techniques