To be sure that their clients and merchants are who they say they are, financial institutions and banks must now have strong controls in place. They require trustworthy data sources and tools to support their Know Your Customer (KYC) and Anti-Money Laundering (AML) services to do this. Handshakes is a trusted KYC service provider that offers a reliable data platform for KYC and client onboarding.
This article will explore Handshakes’ services and features in detail, highlighting its unique offerings and why it’s a trusted KYC service provider.
KYC Challenges and Handshakes Solutions
KYC and client onboarding procedures can be difficult and time-consuming, which can lead to issues including erroneous or incomplete information, protracted onboarding times, and a lack of real-time monitoring capabilities. The Handshakes software platform resolves these problems by providing the key features listed below.
KYC Profiling
Handshakes’ software generates precise customer profiles with reliable data and provides a comprehensive overview of the customer’s financial relationships for more robust, error-free due diligence checks.
Risk Classification
Handshakes’ software checks potential customers against Sanction Lists and identifies Politically Exposed Persons (PEP) for better risk management.
KYC Management
The software from Handshakes makes it simple to retrieve the necessary KYC information, making it simple to keep track of customer ratings, amend them, or reassess their risk profile.
Sanctions and PEP Screening
The software from Handshakes makes it possible to classify risks at the outset of onboarding, making it simpler to provide superior customer support while preserving a low-risk exposure.
Handshakes’ Solutions
Handshakes offers a range of solutions to help financial institutions and banks with their KYC and client onboarding processes. Some of these solutions include
Data Cleaning
Handshakes help update customer lists with data from Singaporean, Malaysian, Vietnamese, and Chinese capital markets as well as information from official business registry sources.
Why Choose Handshakes?
Handshakes is a trusted KYC service provider that is accredited by SG:D for their KYC services. They have been trusted by regulatory bodies, financial services, and corporations with their data and workflows. With Handshakes, financial institutions, and banks can be assured of the product’s core functionalities, the company’s ability to deliver as promised, and data security.
Conclusion
Handshakes is a reliable and trusted KYC service provider that offers a range of solutions to help financial institutions and banks with their KYC and client onboarding processes. With its software platform and key features such as KYC profiling, risk classification, KYC management, and sanctions and PEP screening, Handshakes makes it easier for institutions to manage their KYC and AML compliance requirements. Client KYC and client onboarding processes are made more efficient by Handshakes’ solutions, which include data cleansing, integration, business logic automation, and risk analysis.
