Product Profile

Connected KYC

Appian

First Release Date: 13.05.2022

Current Version: Connected KYC v1.4.0 released on May 19, 2023

Language Support:

English, French, German, Italian, Russian, Spanish, Chinese (Mandarin), Japanese, Portuguese, Arabic, Albanian, Armenian, Bulgarian, Croatian, Czech, Danish, Dutch, Estonian, Finnish, Georgian, Greek, Hindi, Hungarian, Indonesian, Korean, Latvia, Romanian

Technology Category: Security & Compliance Authentication Compliance/Monitoring Know your customer (KYC) Regulatory Compliance Data Audit and Reporting Data Management Cloud Platform as a Service Storage Software as a Service Banking Correspondent Banking Corporate Banking Wholesale/Commercial Banking Transaction Banking Investment Management

Product/Service Description

Connected KYC is a pre-built solution to automate Know Your Customer (KYC) investigations, improve accuracy, and minimize regulatory risk. Connected KYC creates a unified visible experience and provides continuous monitoring, frictionless servicing, and clear task management in reducing risk of regulatory fines through a robust rules engine, task management, flexible risk assessment, and automated data integrations.

The solution eliminates friction in KYC investigations by reducing false positives with continuous data monitoring. Connected KYC also improves accuracy and document management and provides complete visibility into current and future investigations.

Customer Overview

Total Number of customers undisclosed

Customer Size Large Enterprise , Medium

Customer Type Business Consultants , Commercial Banks , Corporates , Financial Consultants and Auditors , Institutional Investors , Investment Banks , Investment Consultants/Independent Investors , IT Integrators , Other

Target Market Africa , Asia , Australia/New Zealand , Europe , Global , North America , South America

Specific georgaphical coverage undisclosed

Pricing Model Annual subscription licensing. Tiered based pricing. Each tier level is determined by number of internal users

Demo & Case Study Urls https://assets.appian.com/uploads/videos/transform...

Features

Configurable KYC processes - Business users can fully manage tasks, documents, and questionnaires and how to handle certain types of customers.
Robust document tracking - Use of Intelligent Document Processing and strict document approval and review processes to ensure accuracy and reduce errors.
Continuous monitoring - Configure alerts to notify the compliance team of changing data for each customer and automatically open new KYC investigations.
Increased compliance officer focus - Automatic routing for KYCs that must be manually reviewed based on a custom set of rules determined to reduce unnecessary workload and improve accuracy.
Integrations - Key integrations with several leading data providers in the financial services space, including NorthRow, Office of Foreign Assets Control (OFAC) and DocuSign.
Dashboards & Trends - Keep track of upcoming and historical KYC investigations, tasks, risk scores, and easily identify issues at the customer level

Benefits

View all upcoming investigations, outstanding tasks, new alerts, and risk profiles from within one dashboard.
Continuously monitor updates to customer data with configurable alerts that can trigger new KYC investigations.
Deliver a guided experience for investigators with highly configurable questionnaires.
Reduce human bias, error, and manual data input by automating key processes.
View historical trends of KYC task completion and investigation history.
Assign and monitor status of tasks and required documents.
Manage document collection effortlessly with required document checklists and notifications prior to document expirations; leverage IDP to help classify documents.

Platform & Workflow

Server OS Linux (Red Hat, Mandrake, Debian, SuSe, etc.) , Windows 10 (Microsoft) , Windows Azure (Microsoft) , Windows Server , Windows Server 2016

Workstation OS Windows , Unix , Linux , Mac

Programming Language and API Appian-Certified Developers can install, implement, and customize the Appian Connected KYC solution in the SAIL Design System provided with the solution using low-code / drag-and-drop development and Appian expressions.

SetUp and Installation Options Appian Customer Success and Appian Partners can provide implementation services as a contract service, or customers can install and set up the Appian Connected KYC solution.

Deployment Period Our solution provides new releases, typically on a quarterly basis, to all its customers. Deployments of new releases of the Appian Connected KYC solution impose no downtime on customers. Customers can upgrade to newer versions of the solution based on t

Reporting Capabilities The Connected KYC Solution includes a Manager Dashboard and Trends pages out-of-the-box. In addition to the out-of-the-box reports provided with the solution, low-code reports can easily be created by Appian Developers in Appian Designer.

Security Options Access to the Connected KYC solution is managed by using Appian as the identity provider (IdP) to create user logins, or establishing single sign-on via SAML or LDAP with an existing IdP. Furthermore, each site, page, and action within the solution has it

The product/service compliant with the following regulatory standards The Appian Connected KYC solution is intended to help optimize and add transparency to the execution of a financial institution’

Connectivity, Hosting and Intergration

Hosting Option Hosted by third party , Inhouse , Hosted by provider

Hosting provider undisclosed

Devices Supported Android , iPhone-iPad , Mac , Web-based , Windows

Compatibility with Database Management System (DBMS) Appian Connected KYC is compatible with MariaDB.

Third party integration The Appian Connected KYC solution is set up with the following integrations out-of-the-box. A customer’s Administrator simply needs to input their authentication to each third-party service and enable each integration.

Additional comments ● Companies House to automate data entry for new customers using public registration data. ● DocuSign enables end customers to sign legal documents via a secured Customer Site and automatically saves the signed documents with the customer’s onboarding record. ● Dun & Bradstreet automates identification of end customer ultimate beneficial owners (UBOs). ● Intelligent Document Processing (IDP) using Google AutoML enables automated document classification. ● Northrow to automatically update end customer risk score and alerts. ● Office of Foreign Assets Control (OFAC) for automated sanctions checks.