Compliance Monitoring

Customer Acceptance

• Filter out unwanted clients at the earliest stage. You can perform sanctions checks or screening of selected official blacklists to assess customers’ background and avoid legal issues and risks to your company’s reputation.
• Distribute clients across different risk categories, assign transaction limits based on relevant criteria, etc. All the necessary internal risk mitigation procedures are arranged in a few clicks by applying a set of rules to selected accounts.
• All settings can be effortlessly modified at a client’s request or in an automatic mode (unnoticed by the client). In either case you remain in control while retaining flexibility in untypical situations.

Monitoring All the Way

After the primary vetting and allocation of clients is done, their activities can be monitored for a broad range of events or parameters. Alerts and matching responses can be triggered depending on the event, e.g.:

• limiting account functionality if certain transaction volume is reached;
• limiting customer from performing transactions if their documents have expired;
• sending advance notification to customer to request updating of expiring profile data;
• putting funds on hold if payment from a sanctioned country is received;
• any other trigger/response combination as required by your policies.

You can take certain clients under review and monitor their account behavior in case there is a cause for additional checks. Even if the account activities do not fall outside the set parameters, a manager can still report a client for compliance checks or intensive monitoring if they have a reason to suspect a violation that may lead to a non-compliance issue.

The KoenigFinance system allows for better organization of interaction within your company, leaving room for managing non-standard situations. You can act outside of departmental silos and pass a case to a manager with better expertise or experience to get prompt advise on a particular problem and solve it in the best possible way.

Customer monitoring is a continuous process that can be applied at any step of the client’s journey in your system. Regular or random checks can be performed on transactions (as per set criteria), profile data, document validity, etc.

All-Level Security

The KoenigFinance account security system is fully PSD2-compliant which means that Strong Customer Authentication is implemented to authorize online transactions.

Two-factor authentication is also used on every level in the back office to ensure that only authorized managers can access the program unit and the database.

You can also flexibly distribute access rights for managers and departmental groups to restrict employees from dealing with information out of their scope.