Onboarding customers
ID lifecycle management
Run due diligence
Identify credit card fraud
Accept or give gifts
Payments to third parties
Onboarding and
Regulatory Compliance
Compliance challenges require effective compliance controls that can support rapid change. The controls mitigate enforcement risk, whilst being practical and business friendly.
With B-Trust, it takes 10 minutes and no knowledge of coding to set up a TrustFlow to meet this specific challenge. We use the App Corporate Structure Connector to retrieve beneficial owners and the entire corporate structure tree from any third party provider. We forward the dataset to Sanctions Screening Connector which runs it against selected sanctions lists such as those imposed by OFAC, the EU and UN. In case of one or more hits, the entire data set goes to the OFAC50-Check App to check if potentially sanctioned parties in the structure would also trigger OFAC’s 50% rule. Potential violations will create an automatic alert in the CMS, and can then be later reviewed manually by the relevant experts. The entire end to end process is automated, and takes just seconds – running in real time.
Key Benefits
The most important asset is the customer, making a customer-centric approach vital. Manage customer identity, customer lists, and data throughout the lifecycle seamlessly and without error. The B-Trust platform is a state-of-the-art tool providing identity management across business units and service channels, both at scale and in real time.
With B-Trust, create a full audit trail, ongoing identification verification, and automatic user alerts and reminders.
Key Benefits
Fraud attacks have grown rapidly in the past few years, both in number and sophistication. Where once it was forged checks, today it can be a complete identity. As a business or government organisation, you need an intelligent way to identify fraud ahead of time, automating the detection and mitigation of illegal activity in your transactions. Our B-Trust platform provides our customers with the optimal solution for identifying fraud and stopping it in its tracks. The platform completes all necessary background checks and monitors user activity on an ongoing basis, allowing you the peace of mind you need that all customers are verified, and your user’s sensitive information remains secure.
M&A does not only require identifying, negotiating and making great deals, it also requires sophisticated and complex due diligence.
The B-Trust Platform transforms a complex process by streamlining and optimising controls to deliver relevant key information including all available documents — which can be automatically deleted after processing. Our EntityExtract App searches for all involved parties in those documents. These are passed over to the Corporate Structure Connector to retrieve beneficial owners and the entire corporate structure tree from any third party provider.
We also combine various fragmented databases into one clear single pane of glass, with the final result is a consolidated view of the entire transaction leveraging multiple datasources. The RiskScore App can consolidate all results into a final score based on predefined parameters. The Case Management tool enables each department to run their own custom rules and checks, automated and manual to collaboratively work on transactions. The process can be set up in under 30 minutes, and can relieve your staff of hundreds of man powers of inefficient repetitive tasks.
Transferring Money to a Third Party for the First Time comes with Certain RisksTransferring funds to unknown third parties is always going to be complicated for both the financial institution and the receiver. In many cases, only basis information is available, making proper due diligence difficult to achieve. These kinds of payments happen frequently in banks on a daily basis, but also to suppliers, other business partners, or when handling claims.
Create a Sophisticated, Secure and Simplified Workflow for Payment Checks in MinutesThrough B-Trust, it takes 10 minutes and no knowledge of coding to set up a TrustFlow to meet this challenge. We use the App Corporate Structure Connector to retrieve beneficial owners and the entire corporate structure tree from any third party provider, and forward that dataset to Sanctions Screening Connector which runs it against selected sanctions lists such as those imposed by OFAC, the EU and UN. In case of one or more hits, the entire data set goes to the OFAC50-Check App to check if potentially sanctioned parties in the structure would also trigger OFAC’s 50% rule. Potential violations create alerts in the Case Management Tool and can be easily reviewed by experts. This whole flow is an automated process, is simple to set up, and reduces the transaction checks time to under 3 minutes, running in real-time.