KYC and Client Onboarding

A centralized operations platform to streamline KYC

eClerx Markets’ KYC solution incorporates a blend of technology, process, and people, combined with workflow, rule engines, data warehousing, and robust reporting capabilities. Our proprietary tool, Compliance Manager, utilizes a maker-checker workflow with an integrated data harvesting engine to enable better entity data collation and categorization. The system eliminates manual data capture by using automated web crawlers to trigger content and adverse news searches on public and subscribed databases for over 220 jurisdictions.

 

eClerx Markets’ Client Onboarding Service Provides:

 

  • A policy driven, risk-based approach across global markets
  • Insight into the increasing convergence of regional regulatory and policy requirements
  • Flexibility to build a combination of best available delivery mechanisms
  • Ability to synchronize internal and external databases
  • Effective client onboarding policy prototypes and best practices offered via benchmarking
  • A link between internal departments and customer for effective account onboarding, via people and technology
  • The capture of relevant risk parameters for assessment
  • Verifiable entity-account relationships – principal or investment advisor/ indirect principal

 

Our Delivery Combines:

 

  • Domain expertise to design a client onboarding policy framework synchronizing regulatory, legal and business requirements
  • Industry experience to re-engineer, automate and improve global client onboarding support functions
  • Knowledge of banking operations to deploy proven governance and service standards
  • The eClerx policy framework to standardize policies with regulatory requirements and best practices

 

Capability Coverage:

 

  • Perform initial assessment using available information to identify onboarding requirements
  • Use public or third party data sources to collect, verify and store information across jurisdictions, customer types and risk classifications
  • Review trade enabling documents to verify eligibility (capacity and authority)
  • Collect missing information and documents from the customers or relationship managers
  • Maintain consistency in information gathered; reduce/ eliminate exceptions
  • Adverse news/ media screening for customers, beneficial owners, controllers, and key officials
  • Controlled environment for ‘Reliance’ on pre-existing information gathered from utilities (i.e.: Clarient, KYC.com) and third-parties
  • Perform EDD for high-risk customers
  • Disable trading on accounts which do not satisfy the policy / regulatory requirements

 

eClerx Markets Compliance Manager