Optimisez la Conformité KYC & LCB-FT grâce à la technologie

KYC & AML-CFT efficiency and profitability: technology is everything!

Closely scrutinized by regulatory bodies, regulatory compliance is no longer an option for companies, especially when it concerns financial flows. In today's accelerated fight against money laundering and the financing of terrorism, customer identity verification (KYC) procedures must offer strong guarantees of reliability. However, increasingly complex European and French regulations impose numerous constraints on organizations, particularly in terms of efficiency and cost.

The importance of compliance and budgeting

Regulatory constraints are expensive

Les contraintes réglementaires sont relativement onéreuses. Elles impactent les entreprises avec des coûts directs (reporting, questionnaires à compléter, conservation des pièces justificatives, technologies de surveillance et autres bases de données…) mais aussi avec des coûts indirects (processus, impact salarial, temps passé pour la surveillance et le reporting aux autorités compétentes, recrutement de consultants externes pour des audits …). Sans compter les sanctions financières en cas de non-conformité. Dès lors, se pose une question cruciale autour de la rentabilité. Puisque les coûts sont contraints, comment les maîtriser et si possible les réduire pour les ramener à un niveau supportable ?

One option is to do nothing, i.e. to consider that these costs are ultimately akin to "compulsory compliance levies", giving companies relative peace of mind vis-à-vis the supervisory authorities. In this case, compliance policy will be based on manual processes that are hardly optimized.

Don't confuse effectiveness with efficiency

There's no denying that this approach should be avoided. On the one hand, because the costs are always higher than they appear; indeed, a simple compliance management audit is enough to identify lost productivity and time, as well as hidden costs and lack of process fluidity. Secondly, because many managers and employees still confuse effectiveness with efficiency. Effectiveness measures the gap between results obtained and results sought. Efficiency, on the other hand, measures the relationship between the quantity and quality of results obtained and the resources (material, human, financial) used to obtain them.

Untapped potential for optimizing productivity

Continuing with this line of reasoning, an essentially manual process can then be considered efficient, since the results obtained (KYC compliance and AML-CFT) correspond to what is sought. This is true even if the process is slow and costly, and employees are negatively impacted by time-consuming tasks such as filling in forms or juggling multiple Excel spreadsheets. Even more so if information volumes and false positive rates are very high...

Optimize resources and processes with the latest generation of automated software solutions AML-CFT & Anti-corruption

Focus on profitability efficiency

The manual compliance process is neither efficient nor cost-effective, because the resources mobilized are disproportionate to the objective. These resources must therefore be optimized or even increased. The notion of efficiency must therefore be favored as the basis for implementing a cost-effective compliance policy.

Acting on the resources involved

If it is not possible to act on the objectives to reduce their scope - there will always be a need to comply with the ever-increasing number and complexity of regulations - the best approach is to optimize resources by automating compliance processes. Turnkey RegTech software solutions will manage KYC/KYS issues by dramatically reducing tedious or low value-added tasks, while improving reporting processes and suspicion handling time.

Comprehensive functionality for optimum coverage of compliance policy

Avec l’analyse temps réel de milliers de sources (Sanctions Globales/Régionales, Gels des Avoirs, Personne Politiquement Exposée, identification des Pays et Devises sous embargos, …), ces solutions vont identifier les dysfonctionnements potentiels et garder les preuves des contrôles et des diligences effectués, à destination des organismes régulateurs. Elles seront capables d’offrir des fonctionnalités de détection & de filtrage LCB-FT mais aussi de la remédiation KYC (mise à jour des informations détenues par les clients) sans oublier l’interopérabilité avec le système d’information existant (CRM, applications de gestion). L’usage de solutions logicielles RegTech de dernière génération va permettre des gains de temps considérables, une fiabilisation des processus et une administration réduite avec le mode SaaS.

A 100% efficient compliance policy... and therefore more profitable!