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:
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
Institution submits customer information and documents via API
Sigma verifies identity using government databases and processes documents with OCR
System calculates risk score and screens against PEP and sanctions lists
Institution receives comprehensive risk assessment with recommendations