iSPIRAL, a Comprehensive Approach to KYC/AML

As the world becomes ever more technologically reliant and populous, incidents of money laundering and financial crime are appearing at an alarming rate, posing a threat to every organisation and company.

Organisations, especially those in the financial sector, need to be vastly more diligent in reducing their exposure to severe financial risks (and the consequent penalties for non-compliance), fully identifying their customers and ensuring complete due diligence from the moment of on-boarding.

The only logical way to tackle this is to deploy holistic solutions, which ensure complete KYC and AML processes. Such processes should be quick, effortless and effective. RegTech organisations must be able to deliver seamless and holistic management of data throughout the client relationship cycle. This will ensure the complete prevention of, and protection against, financial crime while, at the same time, allowing full compliance with the AML Directive. Within the framework of such a comprehensive approach to KYC/ AML, iSPIRAL has developed innovative and multifunctional tools fully covering this need, no matter the size, scope or unique requests of any organisation. Comprising a skilful team of analysts, programmers and technology enthusiasts, iSPIRAL provides tailored software to comprehensively address the compliance objectives and obligations set by regulators worldwide.

The platform is a standalone, online web application which provides a complete line of high-end tools to manage a magnitude of regulatory compliance and AML needs.

The platform provides:

  • Negative Lists Search
  • Electronic Document Verification
  • Positive Lists for Proof of Address & Identification
  • Enhanced Due Diligence Report Requests & Wealth Assessment.

The Solution Negative Lists Search offers complete security and unparalleled expertise in screening. It delivers holistic data on PEP Lists, Sanction Lists, Adverse Media, etc. The tool also provides consistent, ongoing monitoring and adding to its functionality, it also delivers comprehensive eIDV and eDV management through the use of leading providers.

iKYC API Platform

Software-as-a-Service API Platform: A highly versatile solution, the software delivers an even wider dynamic to iSPIRAL’s KYC/AML offerings. This solution accepts requests directly from an organisation’s existing system (such as a CRM, Core Banking or other operational systems already in place) and instantaneously returns accurate results.

The iKYC API Platform provides:

  • Negative Lists Search
  • Document Verification & Face Recognition
  • Positive Lists for Proof of Address & Identification
  • Risk Categorisation

Premium AML & KYC Compliance Solution

An on-site KYC & AML Back End Solution, it offers the full spectrum of due diligence and compliance functions. Covering a huge diversity of compliance requirements, this Back End Solution provides for both a comprehensive overview and the subsequent mitigation of risk. It is able to reroute requests to all relevant partners and synchronise with all existing data sources while supporting full Risk Categorisation of Individuals and Legal Entities, and delivering Transaction Monitoring, working with Online and Offline Rules. At the same time, through the efficient and proactive Case Management tool, it oversees the effective management of cases identified as suspicious, introducing a series of actions ensuring that any risk to the organisation is automatically and comprehensively mitigated.

Utilising expertise, global partnerships, machine learning technology and real-time activity monitoring, iSPIRAL’s KYC/AML solutions ensure that banking institutions, investment firms, forex brokers, PSPs, accounting/audit, legal professionals are fully aligned with their compliance needs. iSPIRAL team is always hands-on to assist, support, educate and proactively act as your Regulatory Technology Partner.

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