Know Your Customer (KYC) solutions will help you comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.
What is KYC Due Diligence?
KYC DUE DILIGENCE
KYC Due Diligence, is the combined strategy specifically intended for dealing with high risk or high value customers and large transactions, as these transactions and clients pose greater risks to the financial sector, they are heavily regulated and monitored in order to adhere to compliance acts set by governing bodies. Many industries are subject to AML/CFT (Anti-Money Laundering/Combating the Financing of Terrorist) compliance, including requirements disseminated by MAS (Monetary Authority of Singapore) applicable to any and all financial institutions in Singapore. Hence, it is imperative that business owners and entrepreneurs of today, to not only be aware of the various risks at hand in the financial sector as well as the overall global economy, but also know the inherent responsibility to conduct regular KYC Due Diligence checks in order to comply to the laws and regulations set to protect businesses. Therefore, we have made an application, ProKakis, for firms owners to search for opportunities, potential partners, buy or sell businesses and investment with our integrated ongoing due diligence screening. This will help to build safe and conducive marketplace for any firms that use our platform.
By closing the gap in KYC due diligence for Small Medium companies, Our application solves the pain points of customers who do not have a clue on how to perform Due Diligence and cannot afford a full KYC services. Solving the following pain points.
USES OF KYC SERVICES
- Client on-boarding.
- User Registration.
- Processing of high-profile transactions.
- Re-verification of existing users.
- Ensure regulatory compliance.
- Replacement of outdated authentication mechanisms.
Due Diligence Solves the following points.
- Reducing criminal syndicates infiltrating to companies
- Keeping track of STAKEHOLDERS, important suppliers and before awarding major contracts.
- Looking for verified business opportunities such as franchisees and new product suppliers from overseas.
- Searching for suitable investors and getting an investor for your current business.