The onboarding process should be efficient, avoid unnecessary delays that impact revenue generation, and create an experience that helps to set the relationship off on the right foot. When it comes to CDD, EDD, often CDD lacks the rigour and expertise that the FCA would expect or too many applicants are pushed straight through to the EDD stage. This can invite too much risk or introduce unnecessary cost and delay that ultimately affects the onboarding experience.

Compliancy.CAM helps to optimise the CDD and EDD process by using a combination of technology and subject matter expertise to apply the right amount of rigour at the right time. Providing you with a consistent way of measuring risk and streamlining the CDD and EDD process.

1. Risk question framework

Reviews the applicant’s financial crime prevention policies and processes. Designed by subject matter experts to Wolfsberg principles. Can include your own unique questions and other risk areas.

2. Applicant completes e-audit

E-audit provides an efficient and consistent risk assessment process. The applicant completes an online questionnaire and uploads supporting policies and procedures at a time that is convenient to them.

3. Assess applicant risk

Risk scoring system designed by subject matter experts. Applicant responses reviewed by a skilled assessor. Separate quality assurance process to ensure consistency.

4. Carry out onsite review

Only where e-audit results demand closer inspection - and information again stored in a consistent format in Compliancy.CAM. Thoroughness of e-audit reduces the onsite consultancy time as it just has to focus on testing the financial crime prevention controls, interviewing key people, testing AML software and random sample file checks.

5. Provide structured report

Applicant risk scoring including conclusions and recommendations for any improvements. Information remains stored in Compliancy.CAM allowing you to view applicant information, including e-audit answers, uploaded documents and the onsite review.

6. Ongoing monitoring

Frequency determined by your risk framework and individual applicant risk. Compliancy.CAM service process repeatable. Individual and portfolio risk can be tracked over time.

WHY CHOOSE COMPLIANCY.CAM

We deliver Compliancy.CAM as a managed service, working collaboratively with you to ensure that this is aligned with your own processes, controls and expectations.

6 reasons to choose Compliancy.CAM