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The Challenge

Financial institutions must onboard thousands of customers monthly while maintaining strict regulatory compliance and risk management standards. With increasing regulatory scrutiny from AML/CFT authorities, banks need a comprehensive solution to verify customer identity, assess risk levels, and screen for high-risk individuals such as PEPs and sanctioned persons.

Failure to implement effective Enhanced Due Diligence processes can result in substantial regulatory penalties, facilitating financial crime, reputational damage, and loss of correspondent banking relationships.

Our Solution

Sigma Enhanced Due Diligence integrates seamlessly into the financial institution’s onboarding and compliance framework, providing comprehensive risk assessment and verification capabilities such as:

  • Multi-document identity verification using government databases
  • Automated risk scoring based on multiple risk factors
  • PEP and sanctions screening against global databases
  • AI-powered document processing and fraud detection
  • Sigma acts as a comprehensive compliance and risk management platform for financial institutions, ensuring that all customers are properly verified, risk-assessed, and monitored throughout their relationship lifecycle.

    How It Works

    1

    Institution submits customer information and documents via API

    2

    Sigma verifies identity using government databases and processes documents with OCR

    3

    System calculates risk score and screens against PEP and sanctions lists

    4

    Institution receives comprehensive risk assessment with recommendations

    Risk Level Outcomes

    Low Risk

    Standard onboarding process with basic monitoring and annual reviews.

    Medium Risk

    Enhanced documentation required with quarterly reviews and additional verification.

    High Risk

    Senior management approval required with monthly monitoring and enhanced due diligence.

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