In today’s rapidly evolving financial landscape, staying compliant with regulatory standards is both crucial and challenging. FlexComply offers an all-in-one compliance and risk management system designed to help banks, Money Service Businesses (MSBs), and other regulated entities manage and automate their compliance workflows efficiently.

Key Features and Benefits

• Digital Onboarding and Identification Verification: Seamlessly onboard individuals, businesses, and merchants with AI-based biometric verification, OCR auto-fill forms, and real-time fraud detection.
  
  
• Comprehensive Screening: Conduct Know Your Customer (KYC) and Know Your Business (KYB) screenings across 195 countries, including checks against sanctions, watchlists, Politically Exposed Persons (PEP), and adverse media.
  
  
• Advanced Risk Assessment: Utilize pre-built risk parameters with the flexibility to customize rules, enabling real-time risk scoring tailored to your organization’s needs.
  
  
• Automated Alerts and Notifications: Receive timely alerts for periodic reviews, positive matches, unusual transactions, and document expirations to ensure proactive compliance management.
  
  
• Robust Transaction Monitoring: Implement and customize transaction monitoring rules to detect and address suspicious activities promptly.

In-Depth Overview

FlexComply is designed to be a modular and scalable platform, adapting to the unique compliance requirements of various financial institutions. Its user-friendly interface requires no coding, allowing compliance teams to navigate and manage workflows effortlessly.

The platform’s digital onboarding feature supports identity document verification from 195 countries, ensuring global compliance standards are met. The AI-based biometric verification and matching enhance security during the onboarding process.

Screening capabilities include real-time name screening for individuals and businesses, checking against comprehensive databases for sanctions, watchlists, PEPs, and adverse media. This thorough approach minimizes the risk of associating with high-risk entities.

For high-risk customers, FlexComply provides additional due diligence features, allowing separate tracking and management. Customizable Enhanced Due Diligence (EDD) forms and document management ensure that all necessary information is collected and assessed.

Risk assessment is a cornerstone of FlexComply, offering an exhaustive list of pre-built risk parameters. Organizations can add, edit, or build custom rule parameters, assigning different risk scores for individual and business clients. This risk-based approach allows for dynamic adjustments to weightages, ensuring real-time risk scoring aligns with the organization’s risk appetite.

Automated alerts and notifications keep compliance teams informed of critical events, such as the need for periodic reviews based on risk categories, ongoing monitoring alerts on positive matches, unusual and suspicious transaction alerts, and document expiry notifications. This proactive approach ensures that potential compliance issues are addressed promptly.

Transaction monitoring is enhanced with pre-built rules that can be customized to fit the organization’s specific requirements. This flexibility ensures that the monitoring system evolves with emerging risks and regulatory changes.

Overall, FlexComply simplifies RegTech by offering an advanced case management system with internal maker-checker workflows, detailed audit logs, built-in task management, region-specific regulatory threshold management, and regulatory reporting. The platform also provides an online ticket generation system and 24/7 technical support, ensuring that compliance teams have the resources they need to maintain robust compliance programs.

Ready to Elevate Your Compliance and Risk Management?

Contact Vulcan Point today for a personalized consultation and discover how FlexComply can transform your compliance workflows.