Any compliance program is only as good as its data. Many institutions suffer with poor data quality:
Stale, out of date, or duplicated data causing an inaccurate and false picture of a client.
This in turn causes knock-on effects - can you rely on all cross-border tax reporting being done accurately? Are you aware of all AML related risks? Are the related parties to a legal entity still accurate, or have any new owners been added that you should be aware of?
How we can help
Our software is based on graph database technology which is specifically designed to increase data re-use. Where ever possible, we help you reuse what you already know to avoid data re-entry and duplication. Does a corporate client want to open a relationship for a newly created subsidiary? The software will complete all information that is already known about the existing client. This removes the need for re-entering existing, known ownerships and relationships.