Fulcrum GT’s Post

In compliance, it’s not enough to trust that your team is following the process. You need visibility into the results. See why and how 👇

🚨 Are your compliance processes truly airtight? For years, businesses have leaned heavily on Standard Operating Procedures to ensure their KYC processes meet compliance standards. But here’s the reality: SOPs alone don’t guarantee compliance. In our latest blog post, we dive into: 🔎 The flaws in relying solely on SOPs for KYC compliance 🤔 How human error, blind spots in procedures, and fluctuating effort levels can leave companies exposed to risk ✅ How Ondorse Scan transforms your compliance process with real-time, automated audits, giving you complete visibility into your entire KYC database Discover how you can: 👉 Identify compliance gaps in real-time 👉 Proactively address high-risk areas 👉 Give auditors and regulators the quantified insights they need If you’re ready to move beyond SOPs and ensure bullet-proof compliance, check out our blog: https://lnkd.in/dxQCb-QK

Insightful, Suresh Chavali aptly explains our approach....

Our new free course "How to Collect Data for Successful KYC" is here! 🔥 👨🏻🎓 Just one click away from gaining the practical skills needed to develop, implement, and apply effective KYC scopes for different levels of risk. https://lnkd.in/dCcS9q3R What's inside? • All about KYC scoping procedures and their purpose • Skills to assess client risk profiles and determine appropriate due diligence levels • Knowledge of specific information and documentation requirements for different client types • Effective communication strategies to explain KYC requirements to clients • Practical guidance on implementing a risk-based KYC approach and much more! 4 modules. 4 tests. The most up-to-date knowledge and tactics. Register now 🔗 https://lnkd.in/dCcS9q3R #KYC #FreeCourse #Compliance

Unlock the best practices from KYC experts! Don't miss out on Sumsub's free KYC training—essential insights for staying ahead in compliance and verification. #KYC #Compliance #RiskManagement #AML #Fintech

Dive into the world of Know Your Customer (KYC) with this all-encompassing blog. Discover the factors influencing KYC, from legal systems to cultural variations. Explore the intricacies that shape global KYC compliance. Ready to learn more? Read our blog! 📘🌐 #KYCInsights #GlobalCompliance #VouchedSolutions https://hubs.la/Q02gMsYG0

🌟Webinar Summary🌟🔎Choosing the Right Compliance Solution🔍✅In the recent webinar, we discussed the factors to consider when selecting an automated AML and compliance solution. Compliance officers play a critical role in ensuring proper controls and adherence to regulatory requirements.🔐Assessment criteria include managing customer data, risk scoring, rule configuration, and generating regulatory reports. The right solution streamlines compliance processes and reduces risk.🌐RegTech, the use of technology for 😵💫🧔♂️❤️🩹🧑🎓🧑🏫🧑🔬🧑🎨 regulatory functions, was also explored. It aids compliance by managing websites, integrating transaction systems, and generating required reports.💡Stay updated with the latest tools and systems to cope with increasing requirements. RegTech tools mature in KYC, transaction monitoring, reporting, and risk analysis.💰RegTech, a multi-billion dollar industry, revolutionizes compliance with advanced technologies. Let's embrace automation and focus our resources on tasks that need human intervention. #ComplianceSolutions #RegTechRevolution asdsad  

🚀 Automated Regulatory Compliance Checks: A Crucial Tool for Businesses In today's fast-paced regulatory environment, staying compliant is more complex than ever. Businesses face the constant challenge of navigating evolving regulations, and manual compliance checks can lead to human errors, inefficiencies, and high costs. By embracing Automated Regulatory Compliance Checks, organizations can streamline their processes, reduce risks, and ensure adherence to legal requirements in real-time. Automation not only improves accuracy but also provides scalability, allowing businesses to keep pace with changing laws and standards. From KYC to AML checks, automation helps financial institutions and other industries maintain compliance without overburdening teams with repetitive tasks. As regulations evolve, automation will be the key to staying ahead and avoiding costly penalties. 💡 Is your business ready to embrace the future of compliance? #RegTech #Automation #Compliance #BusinessInnovation #FinTech #DigitalTransformation #RiskManagement #KYC #AML

In last week's AML Grey Matters broadcast, we dove deep into the complexities of managing an AML remediation project and shared practical tips for success. The recording of the broadcast can be found on the resources page of our website at silocompliance.com. Key Highlights of the discussion: Understanding Remediation Needs: John Carr from Mwek Services emphasized the importance of identifying the root cause of the need for remediation, often due to resource constraints and the necessity for innovative solutions. Innovation in AML: The discussion highlighted the critical role of innovation in AML compliance, from re-evaluating policies and procedures to adopting new technologies like electronic ID verification, which streamlines the remediation process and improves efficiency. Regulatory Challenges: We explored the challenges businesses face in adopting new technologies due to outdated regulatory guidance, and how jurisdictions that encourage technological adoption can become more competitive. Practical Tips for AML Remediation: John shared detailed steps for successful remediation projects, including pre-planning, goal setting, project management, forming a steering committee, and reporting. Special Guests: John Carr (Mwek Services): Led the discussion on AML remediation project management. Jonathan Wauton (Tiller Technologies): Provided insights on electronic ID verification technology. Anthony Brennand (Demdike Innovation): Shared his perspective as a former regulator and current innovation consultant. Watch the full discussion and gain valuable insights to enhance your AML compliance efforts. You can subscribe to AML Grey Matters to join us for future live broadcasts at www.silocompliance.com. #AMLCompliance #ProjectManagement #Innovation #RegulatoryChallenges #AMLRemediation #ElectronicIDVerification #ComplianceTips #AMLGreyMatters #FinancialServices #BusinessInnovation #channelislands

Thanks to Baptiste for the mention below! If anyone would like to access the white paper mentioned below, you can do so here: https://lnkd.in/gYZcMvWw #digitaltransformation