AML and KYC
Identify concerns around who’s moving money – before it moves
AML and KYC compliance are critical to banking operations. But to deliver, you need confidence in the people and entities operating in your systems – and that can mean navigating missing information and complex and costly processes. Clearspeed bridges the confidence gap with risk indicators that help validate the origin and dispersal of funds, expose schemes or illicit account usage, and support a cadence of continuous employee vetting.
Backward-looking data and alert overload can mask real fraud
AML and KYC programs have a seemingly simple premise, but a supremely complex landscape through which to sort through and identify fraud risk. Reliance on historical data only tells institutions what an individual has done – not what they’re doing now. And standard checks confirm what’s on record instead of catching bad actors at the door. Meanwhile, compliance teams are bogged down by treating every activity with the same scrutiny, whether it poses a real risk or not.
Add a real-time trust layer to your AML and KYC program
EXTERNAL
Clarity in a complex threat landscape
AML and KYC fraud can come from any individual, entity, or organization seeking to enter or operate in the banking system. The sophistication and scale of this external threat has never been higher. Criminal networks, state-sponsored actors, politically exposed persons, and opportunistic fraudsters are all probing the financial system constantly, looking for gaps and blind spots allowing for illicit activity. Whether high-risk onboarding, complex KYC cases, or interactions with individuals from high-risk jurisdictions, Clearspeed provides a layer of real-time risk intelligence that can’t be replicated in a well-prepared paper trail. An assessment of individuals, at the moment it matters most.
INTERNAL
Close the gaps in continuous vetting
AML and KYC fraud risk can also come from within. Insiders with the right access and authority can approve transactions and customers that should be flagged, and otherwise shield illicit activities from detection. Traditional continuous vetting processes can be disruptive to regular banking operations, with a compounding effect. Clearspeed supports on-going insider risk assessment with a short, yes-or-no questionnaire, at any point in the employee lifecycle.
