Financial Crime Control Solutions | CIP/KYC
CIP & KYC Solutions
Implementing a Know Your Customer/ Customer Identification program (KYC/ CIP) is among the most basic tenets of Section 326 of the USA PATRIOT Act, and is required as part of your overall strategy for AML compliance.
However, a comprehensive KYC/CIP program involves much more than just identifying customers; it requires the development of customer profiles and a true understanding of the expected scope of your customer relationships.
Keys to an effective KYC/CIP program:
As you can see, identity verification techniques and ongoing customer assessments are critical to meeting the KYC/ CIP challenge and should be at the heart of your institution’s solution.
More than just compliance.
It’s important to know that an effective KYC/CIP program delivers much more than regulatory compliance. With the appropriate effort and focus, your KYC/CIP program can and will result in tangible benefits for your financial institution and your customers.
To help you meet the regulatory requirements and truly realize the operational benefits of a robust KYC/CIP program, we offer Wiz Sentri: RiskID, our comprehensive CIP software solution, as well as Wiz Sentri: Financial Crime Control, for ongoing monitoring of accounts and customer activity.
To learn more about Wiz Sentri: RiskID and Wiz Sentri: Financial Crime Control please click a link on the right.
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