Perpetual KYC & AML
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the problem
Thanks to emerging technologies like machine learning powering sophisticated fraud techniques like synthetic identities, fraudsters are getting harder to keep up with. Nearly 7 out of 10 surveyed bank executives expect financial crime to rise in 2024. Meanwhile, traditional KYC and compliance measures are failing to adapt yet remain eye-wateringly expensive.
the solution
Cygnt’s financial identities allow you to immediately ascertain a customer’s authenticity, as well as continuously monitor for suspicious behavior. Use of Cygnt dramatically reduces your institution’s exposure to synthetic identities and money mule networks. As an automated platform, Cygnt is a low-cost high-value choice for any compliance group.
key benefits
- Secure: Provide consumers best-in-class data security, while avoiding relationships with known bad actors.
- Signals only: Receive only the signals you need, and avoid the headache associated with handling personal and private information.
- Real-time: Uncover and respond to bad behaviors as they emerge.
- Strong deterrence: Prevent would-be bad actors with an opt-in that encourages good behavior .
- Fair: Evaluate consumers consistently by their financial integrity.
- Easy: Simple to implement and maintain with your existing compliance tech stack.
