COMPLIANCE MANAGER

  • Our engagement
    till date

  • 220+

    Jurisdiction Covered

  • 40%

    Average handling time reduction

  • 50%

    Reduced false positives

Streamline Client Onboarding, Renewals And Trigger Management Functions.

The solution is based on a blend of technology, process and people, with workflow, rule engines, data warehousing, and compliance & MIS reporting forming the foundation of our delivery capabilities. Our technology engine helps implement global due diligence and on-boarding policies and procedures while leveraging a dynamic customer screening workflow to reduce manual intervention and costs.

Keywords:
compliance

With Compliance Manager, you get

  • Data Capture

    The data capture workflow enforces capture of complete information about the client based on the risk category and type of entity, wrapped in maker-checker workflow.

    Colorful Cloud capturing data
  • Colorful Cloud capturing data

    Data Search

    Configure business rules across jurisdictions to determine CDD/ EDD requirements.

  • News Analysis

    NLP is used for classification of the results into positive / negative, based on the underlying keyword result set used for Semantic analysis.

    Colorful Cloud capturing data
  • Colorful Cloud capturing data

    System Interfaces

    API for upstream / downstream systems integration. Trigger reviews where information is not available with compliance / COB teams.

  • Reports

    Customize, view and download risk, business, cost and audit reports.

    Colorful Cloud capturing data

CHALLENGES

Introduction of the new regulations post the financial crisis by the key regulators have made the Know Your Customer (KYC) process more challenging and comprehensive, in areas such as investor protection, risk management or tax compliance.

  • 1.

    Lack of single golden data source for clients and counterparty.

  • 2.

    Large client portfolios needing periodic time bound updates.

  • 3.

    Increased time to onboard and transact with clients due to unstructured KYC process and manual data collation.

  • 4.

    Unstructured tracking and incomplete reviews (regulatory / reputational risk / potential penalties).

  • 5.

    Data received from multiple information sources resulting in increased processing error.

“KYC And Client Data Collation Workflow”

Compliance Manager strengthens client data collation and validation functions as part of Client Onboarding and KYC Renewals Review. External structured data sources can be integrated through web services. Natural Language Processing and Semantic Analysis techniques enable building of client profile with a wider set of unstructured data sources with limited resources.

SOLUTIONS

01 INTEGRATION

Integrates with existing client technology. Integrated workflow for allocation , re-allocation, review and audit.

02 DATA SOURCING

Data harvesting from public sources using robotics and third party API’.

03 REPOSITORY

Repository to retrieve client entity names and gather existing KYC history.

04 PRODUCT CUSTOMIZABLE

Customizable region specific attribute list based on risk classification.

05 MEDIA AND SOURCE
SCREENING

Inbuilt cognitive intelligence for adverse media screening and multiple source led errors.

COMPLIANCE MANAGER SERVICES

Self-sourcing Module

Ready-to-use data sourcing infrastructure that utilizes robotics, machine learning and API based automations to source data from over 850 data sources and documents.

  • Delivering High Quality and Consistent data and documents sourced from public and paid sources globally.
  • No Licensing, Development and Maintenance costs.
  • Reduced Infrastructure costs.
  • Customized Periodic Refresh Rule Engine for each client.
  • Data Source Benchmarking helping improve self-sourcing document attach rate.
  • Reduction in Data costs by eliminating need for paid data providers.
  • Industry Benchmarking and Mutualization for policies, procedures and technology

Requirements Management Module

Automated Requirements Generation from the Compliance Manager Platform.

  • eMRT: e-Requirements management tool.
  • Streamlines and Standardizes Global KYC requirements.
  • Automates requirement list generation.
  • Auto-generates consistent, client friendly outreach emails.
  • Systematic email follow-up and escalations.
  • Ability to integrate with document and data repositories.
  • Eliminates human judgement in requirement identification.
  • Increases productivity by more than 15%.
  • Provides better and consistent client experience.

DocIntel Module

Improves the sophistication in the screening algorithm to make it more granular, allowing it to systematically disposition false-positives and classify potential true-positives.

  • Utilizes OCR, Artificial Intelligence and Pattern Matching technology to identify document types.
  • Text Analytics and Machine Learning to analyses the content to determine relevance and composition.
  • Auto Capture of key parameters such as document type, location / region, client name / legal name, key data attributes.
  • Create metadata tags for each document.
  • Exception workflow for unidentified documents and to capture key parameters.
  • Searchable index to look for documents across the database.

Client Screening Module

Embedded Data Quality Improvement process: tackles significant inefficiencies that exist due to sub-optimal document tagging and metadata management.

  • Sourcing: API connectivity with Regulatory data providers. Additional Open Source Search Engine API to source information on recent events.
  • Disposition: Machine learning, Natural Language Processing (NLP), Named-entity recognition, co-referencing, and text analytics to systematically eliminate false positives. Auto-dispositioning of as much as ~55% of the alerts.
  • Decisioning: Review by analysts to further eliminate false-positives using information collected by automations. Narrative and recommendations for true positives.
  • Monitoring: Ongoing monitoring and risk reporting across entities and associated parties can be added to the Compliance Manager database.

OUR INSIGHTS

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  • Strategic Change management

    Transforming Syndicated Loans Credit Agreement Management with eClerx DocIntel

    Revenue output reached $.5M

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  • Operation Accelerators

    Transforming Client Lifecycle Management with eClerx Compliance Manager

    Revenue projection increased by 112% in the first 2 fiscals

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  • Strategic Change management

    IT Data Transformation
    and Migration for an IT Major

    Savings delivered: $5M per annum

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