One of the biggest nightmares within compliance teams in any industry is the on-going and never ending communication with customers, according to Aqubix.
Communication is usually via email to fill in forms, receive documents, input information and many other aspects. This process escalates when risk increases, having to ask for further documentation and supporting evidence.
This is a challenge for any compliance team as keeping track of what email needs to be filed where, against which entity, in which application and what type of data is being received. As a result, compliance teams end up in endless separate threads to communicate with subjects which result into a nightmare when trying to audit the entire history with a subject.
To help solve the challenges, Aqubix provides KYC Portal, which has an embedded secure and fully audited communication engine, enabling compliance team to liaise directly with end-customers.
The solution does this on all aspects required throughout the entire process of KYC including on-boarding and on-going aspects of CDD. The subject needs to have their email address stored as well as their mobile number, with the latter being used for 2 Factor Authentication which is a regulatory requirement to audit such customer communication channels.
The system provides direct communication channels between the organisation and the customer by providing the ability to request documents, the ability to request filling of forms, enabling face to face meetings, and the input and creation of the entire corporate structure.
Aqubix’s KYC Portal provides the end-customer a secure portal in which they can upload documents securely. The module also provides the ability to download any templates to be able to print, sign and upload back into the portal
The RegTech’s solution also allows the end-customer to fill in the various forms that the organisation would have filled in, such as the source of wealth, source of funds, the KYC forms and any other requirement.
Customers are also able to conduct a face to face interview with biometric facial recognition with an agent of the organisation. These interviews are instantly recorded in KYC Portal against the individual.
Its latest module, the Corporate On-boarding Tool, enables the end-customer to create their entire company structure and associated entities with all the respective material required for each entity.
According to Aqubix, this embedded communication engine within KYC Portal allows organisations to centralise all communications with end customers and have the ability to audit all historical records.
To request a demo with Aqubix email sales@aqubix.com
