Efficient and effective risk management and regulatory compliance starts with the ability to easily access the most accurate and timely information. The more and better information an organization has about its customers and their relationships – on both an individual and business level – the better it will be at determining the level of risk customers represent. Also, having an accurate view of the aggregate risk at the enterprise level enables more efficient capital planning and better compliance with the latest regulations.
For example, organizations can more effectively manage risk and reduce losses by having a more comprehensive understanding of a customer's financial condition and their potential for default, based on their commitments and associations with other entities. Having the right information also helps prohibit fraudulent activity and reduce exposure to losses from customers who skip out without paying their bills.
Similarly, organizations need to comply with numerous Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) legislation, including Sanctions and Politically Exposed Persons (PEP) programs, Know Your Customer/Customer Information Programs (KYC/CIP), and due diligence efforts.
Our approach to risk management and compliance allows organizations to: