Accuity: Offering a Suite of Innovative KYC Solutions
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Accuity: Offering a Suite of Innovative KYC Solutions

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David Wilson, CEO, AccuityDavid Wilson, CEO
Procedures of counterparty KYC due diligence are an essential part of all compliance programs. If companies fail to conduct due diligence concerning the integrity of third parties and its customers, they might find themselves directly implicated in corruption. However sophisticated the counterparty KYC due diligence process seems to be, it faces its own set of challenges. The critical bottleneck is the difficulty to find accurate data due to unresponsive counterparties or the lack of standardized processes across the bank. Even if the data is collected, ensuring the authenticity of documentation is a challenge. At the same time, financial institutions are struggling to manage the ever-changing compliance processes leading to rising regulatory costs of KYC due diligence. The pressure on KYC compliance teams is increasing, compounded by the need to onboard customers quickly, despite the costly and time-consuming manual processes. Addressing these needs, Accuity, a global provider of financial counterparty information and due diligence solutions, offers Bankers Almanac for Risk and Compliance portfolio that allows KYC professionals to verify the accuracy of financial counterparty KYC information and due diligence documentation, reducing the time spent on manual and repetitive tasks. Bankers Almanac provides instant access to unparalleled intelligence on global financial institutions and over 630,000 completed and time-stamped KYC documents.

The Bankers Almanac team is responsible for conducting KYC checks on new customers and performing reviews of the existing ones. With Bankers Almanac Risk and Compliance Portfolio, Accuity has till date supported a range of organizations with their offering of critical intelligence on institutions, enabling prospecting, financial analysis screening, and due diligence risk assessment.

The Bankers Almanac solution makes the compliance processes accurate, safeguarded, and efficient. It performs frequent KYC and compliance checks on the medium and high-risk entities and makes recommendations based on their risk level. With accurate and efficient KYC compliance, clients can use rich data to maintain their business relationships or grow their global network. Using Accuity’s solutions, KYC professionals can also evaluate risk with data, proof documentation, and quickly identify the companies that may require additional investigation.

I look forward to guiding our teams as we strive to lead the industry with solutions that transform the way our clients manage financial crime compliance and create efficiencies for global payments

Since 1836, new products and services are added to Accuity’s ever-expanding portfolio of innovative KYC solutions for finance professionals. Besides Bankers Almanac, Accuity provides the solutions of Fircosoft and NRS. Fircosoft offers the ultimate precision of control, real-time operational insight, as well as eases and speeds up financial crime screening operations. NRS, on the other hand, helps fuel business growth with consulting, technology, and provides expert guidance that protects and strengthens individual and organizational reputations.

Accuity is redefining global protection by partnering with global and domestic law firms to contribute to compliance issues across many sectors and geographies by safeguarding the reputations of financial institutions and corporations throughout different industries all around the world. For instance, the company helps the air cargo companies achieve greater automation when screening the airway bill and account information to expose risks. Similarly, gaming and gambling organizations are also empowered to create efficient payments routing and AML processes. The company will continue safeguarding the reputations of financial institutions and other corporations with its state of the art solutions. “I look forward to guiding our teams as we strive to lead the industry with solutions that transform the way our clients manage financial crime compliance and create efficiencies for global payments,” says David Wilson, CEO at Accuity.