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KYC & Customer Onboarding

CubeIQ electronic onboarding environment empowers customers’ acquisition and AML teams to flawlessly onboard more customers faster, completely, securely and automated. Comprised from different modules, the environment can be configured to the unique business needs of each institution while can be used for both KYC and KYB.

"The FATF encourages the fullest use of responsible digital customer onboarding … in light of social distancing measures.”

(FATF, APRIL 2020)

CubeIQ secure and complete Customer Onboarding Environment and Ongoing Monitoring covers the following steps:

Step 1: Automated electronic ID Verification.

Identity documentation verification and biometric liveness check (via web based or mobile app).

Module: ElectronicID™.

Step 2: Names sanctions screening.

Names screening against International and National SDN & Watch Lists.

Module: Prime Compliance Suite™, OFAC Reporter™ Web Service.

Step 3: Names adverse media screening.

Names screening against Adverse Media Database.

Module: AML On-Line™,

Step 4: Documents Collection.

Secure collection of all customer application forms and legalization documents.

Module: LDMS™.

Step 5: AML risk rating.

Onboarding Risk Rating and Profiling based on Verified Risk Models,

Module: CRRM™.

Step 5.1: Classification of legal entities and officers.

Automated KYB lookup via global company registries for officer and available UBO data.

Module: KnowYourCustomer™ platform,

Step 6: High risk customers exceptions.

Manual onboarding authorization in case of high risk customers exceptions (p.ex. PEP and other High Risk Customers).

Step 7: Ongoing monitoring.

Customers on-boarded are directly transferred to the core AML application for ongoing transaction monitoring and names screening,

Module: Prime Compliance Suite™, BSA Reporter.