Features
Rules based screening – enables
clients to effectively manage anti-money laundering checks in
line with their risk based approach
Using the workflow capabilities of M2 (click here for the M2 solution brochure), scheduled client
screening checks are prescribed as part of the new client engagement
process, to be performed by the designated operator (i.e. fee
earner, cashier, secretary, screening analyst).
A complete audit trail – essential
functionality required for regulatory compliance
Provides essential functionality in terms of records of checks
undertaken, together with details of results obtained.
Results of KYC ID checks are rendered as embedded web pages
within M2 in context of the corresponding M2 client record.
Provides the option to save KYC ID search results as individual
or consolidated documents within the M2 document management
system (or 3rd party document management system where integrated
e.g. Interwoven/Hummingbird).
Streamline navigation and reduced re-keying of data – saves
valuable time when performing anti-money laundering checks
which also
means the client is not kept waiting
Access KYC ID via automated login (details automatically passed
from M2 to the KYC ID user authentication process) and pre-populating.
KYC ID search forms with data passed from M2.
Recharging options – helps efficiently
manage screening costs
Enables the ability to capture context sensitive time recording
in respect of time engaged performing screening checks, to
provide
for subsequent recharging options.
Scheduling of client re-screening – supports
regulatory obligations to perform ongoing monitoring to effectively
manage business risk
Provides re-screening prompts in relation to existing clients
when appropriate within the new matter inception process.
Ensure escalation/exception reporting of exceptions in support
of regulatory obligations.
Provides the ability to report upon the status of client screening
checks (i.e. checks outstanding or incomplete, satisfactory
/ unsatisfactory, older than a given date etc.).
Flexible and extendable – a platform
for further development of integrated business solutions
from the market leading supplier
Beyond integration with KYC ID, M2 provides scope for additional
risk and compliance features which include conflict checking,
terms of engagement, cost estimate monitoring and file review
/ supervision procedures.
