KYC Portal partners with ComplyAdvantage to automate monitoring processes

Aqubix’s KYC Portal has integrated with ComplyAdvantage, a real-time database for risk decision-making.

This integration is automated through APIs and will enable KYC Portal to push and pull data requests from the API of ComplyAdvantage, ensuring further automated KYC processes.

There are two main reasons for this integration, the automation of manual subject screening, and the improved traceability of actions taken by internal compliance teams. KYC Portal will enable the company to conduct its entire service in one audited platform.

Aqubix CEO Kristoff Zammit Ciantar said, “Integrating KYC Portal with ComplyAdvantage is another milestone achieved in delivering further automation to our customers.

“This integration was requested by a bank in the US who is using KYC Portal to streamline and automate the on-boarding of retail customers. The integration is using the APIs of both systems to automatically check subjects and further automate the KYC process based on the results being returned in real time.”

KYC Portal will help ComplyAdvantage through manual and automated search functions and on-going monitoring tools.

Through its manual search tools, an agent will be able to push a button which will pick up all data for the respective subject and submit a call to the ComplyAdvantage API. If any match is found, they are presented to the agent.

Results will include data such as personal details, political positions, adverse media and more. This service will empower agents to choose the right match and see if there are any false positives.

KYC Portal’s automated search function will instantly trigger searches on subjects without human intervention. This will remove the need of manual processes, with any matches being alerted to the team the following day so they can check the results.

Finally, the on-going monitoring service will enable clients to ensure subjects are all up-to-date on a daily basis and anything is not correct, the team will be informed.

Earlier this year, ComplyAdvantage bagged $30m in its Series B funding round. The company implements leverages an AI-driven risk database to help companies with AML compliance, payment screening, and customer onboarding.

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