How much time are you spending on your CDD processes?
Depending on your jurisdiction and the nature of your business, you may be required to undertake client due diligence (CDD) before onboarding a new client. Many law firms, accountancy firms and financial corporations are still conducting client due diligence via lengthy Word, PDF and Excel forms. Entries are then stored in spreadsheets, making it difficult to keep track of risk assessments conducted and information collected from clients and ensure any red flags are either resolved or escalated.
VinciWorks’ AML client onboarding solution assists with undertaking CDD. It can be used to streamline both the risk assessment and document collection aspects of client onboarding.