KYC3 supports banks in creating enhanced and accurate reports on their Customers, Competitors and Counterparties

Country: Luxembourg

Year: 2014

Concept

  • KYC3 launched a solution to manage compliance and counterparty risk
  • The platform uses big data to search information on clients against applicable lists (PEP, OFAC…)
  • The data collected can also be used to create relationships network maps on clients with specific criteria
  • The luxembourgish company is incubated at BNP Paribas accelerator as of 2016

Consumer Benefits

  • Exhaustiveness: all informations related to KYC AML/FT on one platform
  • Instantness: applicable lists on KYC as OFAC and PEP updated instantly on the Platform
  • Powerful: KYC3 is able to create more than 10,000 reports per hour

How It Works

  • Customers can subscribe online and adjust the settings regarding to their needs (ex. # of reports downloaded per hour)
  • Once the search engine has found information on the targeted client, a PDF report can be accessed and downloaded
  • The report includes all information related to KYC and a map of the clients relationships network
  • Subscription is based on a monthly or annual basis, on the clients own convenience and needs

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