Know Your Customer

Customer Due Diligence with Siron®

Overview

Thorough Know Your Customer (KYC) procedures are crucial for the fight against money laundering and the financing of terrorism. International regulations such as the USA Patriot Act, the Bank Secrecy Act or the EU Money Laundering Directive require financial institutions to identify, verify and classify customers according to the risks they pose. Proper due diligence is required when new customers are accepted and throughout the entire customer lifecycle. FICO TONBELLER helps organizations achieve a comprehensive view of their customers and rates money laundering and terrorist financing risks in real time.

Solution Architecture

Know Your Customer

FICO TONBELLER's robust KYC solution automates effective customer due diligence and ensures a positive onboarding experience. It captures customer data in dynamic, configurable KYC questionnaires, matches it with PEP, embargo, offshore leaks databases and other watchlists in real-time. It also supports ongoing customer monitoring to continuously identify high-risk cases. Integrated management cockpits grant an overall view on the KYC activity at enterprise level allowing quick identification and escalation of emerging issues. Open and flexible solution architecture easily integrates with any legacy and third party systems for fast implementation.

Customers

Included Products

FICO® TONBELLER Siron® KYC

Product overview

Siron® KYC is an end-to-end solution for managing KYC compliance throughout the customer relationship life cycle. It supports the risk classification process of new and existing customers, including audit-proof documentation. Siron® KYC utilizes third-party databases with ready-to-use interfaces to match customer information with sanction and watch lists, and to automatically identify beneficial owners and politically exposed persons (PEPs).

FICO® TONBELLER Siron® RCC

Product overview

Siron® KYC is an end-to-end solution for managing KYC compliance throughout the customer relationship life cycle. It supports the risk classification process of new and existing customers, including audit-proof documentation. Siron® KYC utilizes third-party databases with ready-to-use interfaces to match customer information with sanction and watch lists, and to automatically identify beneficial owners and politically exposed persons (PEPs).

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ABLV Bank meets national and global compliance challenges with Siron®

ABLV Bank

FICO TONBELLER - The Industry Expert in the Area of GRC

Due to a clearly defined business strategy and the systematic development of business lines, ABLV Bank has achieved outstanding financial results, taking one of the leading positions in Latvia, where it is the second largest bank in terms of attracted deposits, with a market share of 14.7% and second in terms of assets, with a market share of 13.1%.

ABLV Bank is highly valued by clients and partners, as the bank’s specialists are first to adopt innovations in the financial services sector. Due to their professionalism and caring attitude, they are highly respected by other Latvian banks and actively participate in the work of the Association of Commercial Banks of Latvia, leading various significant committees and workgroups. The team of ABLV Bank currently consists of 768 employees, and the bank continues to create new jobs in alignment with its business growth.