KYC & AML Automation Solution

Pursuant to Hong Kong legislation dealing with money laundering (“ML”) and terrorist financing (“TF”), financial institutions (“FI”) are all required to deal with customer due diligence and prevent any ML/TF activities. Due to limitations with budget and IT resources, FIs are still doing KYC by manual. This would result in slow customer onboard, highly paper-based records, high labour and system costs for reference checks. Occasionally, some cases such as improper implementation or execution of KYC & AML system could be happened. These could result in regulatory breaches and lead to huge fines reprimanded by regulators.

Our KYC  & AML product, “Neo”, is an AI robot which executes a KYC & AML to fulfil the local regulatory requirements. It automates the KYC process includes face recognition, scan identification documents and extract the required information for further ML/TF risk analysis and background check with less than 2% human interactions. Alternatively FIs can upload their current clients’ data in bulk for the AI Robot assessments. Reports of ML/TF risk assessments are generated periodically or per management command for periodic review.