Know Your Customer – Customer Due Diligence Anti-Money Laundering Solutions

Challenge

...the Actimize [solution] provided he Bank Secrecy Act (BSA), the Third EU Money Laundering Directive, and other AML regulations around the world require that the most complete end-to-end, T financial institutions implement robust know your customer (KYC) risk-based due diligence and customer due diligence (CDD) programs and conduct enhanced capabilities to meet our due diligence on high-risk clients. However, most firms use separate, unrelated applications to cover different aspects of their KYC-CDD requirements. programs, often leading to incomplete, inefficient, and costly compliance processes. To meet the demands of regulators worldwide, firms must not only implement risk-based AML programs, but also prove Senior Vice President comprehensiveness of and consistency in compliance processes. and BSA Officer, BB&T Corp Solution he Actimize Know Your Customer-Customer Due Diligence (KYC- CDD) solution provides integrated capability for KYC-CDD risk T management across the entire customer life cycle – from initial applicant on-boarding to ongoing customer due diligence. With risk rating and continuous monitoring for new and existing accounts, Actimize’s proven and innovative KYC-CDD solution has helped leading financial institutions across the globe gain a complete and accurate view of their customers and the risks they pose.

Achieve consistency in compliance processes t Automate risk evaluation processes and provide a central set of risk en Ri m sk evaluation services to drive consistent decisions across the enterprise. e P g o a T DUE DIL l Eliminate subjectivity in evaluating risk and redundancy of multiple AN IG ic n IC EN y a PL C systems, minimizing inconsistencies in compliance process between P E M M A a lines of business. e n s ID Verification a a

g C Increase staff productivity and efficiency

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Automate manually intensive compliance processes, enabling staff to

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e Risk Rating do more in less time and with fewer resources. Define workflows and l

t A leverage simple-to-use risk management interfaces to manage Negative News day-to-day compliance workload more efficiently. Deploy tools that C U E are proven to reduce 3,000 hours or $100K in case review processes S C TO EN monthly (based on a client processing 2000 cases/month). M IG C ER IL o DUE D g m in rt Deploy quickly and cost effectively pl o ia ep nce y R Support and enhance existing systems by leveraging a modular & Regulator architecture that can be deployed in phases with implementation timelines of less than a month. Rapidly deploy pre-defined KYC-CDD processes, workflows, and investigative paths for immediate needs; alter and adapt processes to reflect current and future requirements. Comprehensive, consolidated KYC-CDD risk management Know Your Customer – Customer Due Diligence Anti-Money Laundering Solutions

How It Works

Dynamic, risk-based client data collection Comprehensive investigation capabilities The Actimize client interview module guides customer facing Automated workflows, advanced case management, and employees through a risk-based, account on-boarding process. integrated research & reporting tools, make both policy By dynamically adapting the requested information according management and the day-to-day compliance workload more to the customer risk, it is possible to collect only relevant manageable, efficient, and cost effective. Built-in capabilities information, minimizing the impact to the client experience support all major steps in the KYC-CDD process – while ensuring compliance and improving productivity. information collection, customer identification & verification, advanced risk rating, case investigation, regulatory filing, and Flexible, multi-dimensional risk rating audit & reporting. The solution includes an extensive library of out-of-the-box risk factors encompassing customer details, activities, and relation- Automated evidentiary and audit reporting ships. Additionally, users can easily customize and define risk The solution automatically compiles all KYC/CIP/CDD factors to suit the firm’s specific needs. The combination of information into one cohesive, standardized report, replacing out-of-the-box and custom risk factors enables efficient imple- the time-consuming and cumbersome process of gathering mentation and maintenance of the organization’s risk policies. data for audits. These reports satisfy both internal compliance departments as well as external regulatory audits, providing an Extensive, high value external data easy-to-see snapshot of all information related to the entire The solution is fully integrated with industry leading data KYC-CDD process. vendors to leverage information related to applicant and customer details. This integration enables real-time search for negative news related to applicants and customers and access to public records for instances of bankruptcies, judgments, foreclosures, and criminal activity. All data is processed by ID verification for insight into high-risk addresses, property ownership, fraudulent ID usage, and more.

Proactive detection models Proven analytic models identify actionable customer risks and initiate workflows accordingly, ensuring that the appropriate procedures are applied in a timely manner. Risks monitored by these models include risk-based periodic reviews, changes in customer risk level, document/certification tracking, activity inconsistent with customer profile, and more.

Consolidated, high-risk customer profile

About NICE Actimize NICE Actimize is the world's largest and broadest provider of a single financial crime, risk and compliance platform for the financial services industry. NICE Actimize empowers its clients to prevent financial crime, mitigate risk, reduce operational costs, minimize losses and improve compliance. The company provides real-time and cross-channel fraud prevention, anti-money laundering, enterprise investigations, risk management and trading surveillance solutions; built upon the Actimize Core Platform which has been enhanced by the company's acquisitions of Syfact and Fortent (Searchspace) analytics and technology. With offices across North America, Europe, Asia and the Middle East, NICE Actimize serves the majority of the world’s largest financial institutions including all of the top 10 global banks. www.actimize.com 01SEP10 AML-CDD

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