Accuity: Offering a Suite of Innovative KYC Solutions

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.