Through this move, KYC Portal CLM intends to scale its fully configurable client lifecycles management platform into the cloud. The cloud-hosted option enables clients from several sectors, including finance, banking, insurance, and legal, to implement a simplified, secure, and scalable approach to managing regulatory compliance and due diligence processes. In addition, KYC Portal CLM comes as a comprehensive compliance solution for client lifecycle management, integrating digital outreach, onboarding, dynamic risk assessment, and auditable workflows.
The launch comes a year after Napier, a UK-based company, collaborated with KYC Portal CLM to offer financial institutions an end-to-end compliance service. The two companies intended to mitigate siloes across multiple operations and capabilities by integrating KYC and compliance processes within their products. Also, the integration between KYC Portal CLM and Napier’s transaction monitoring modules was set to focus on ensuring increased speed, security, efficiency, and accuracy to augment how clients alert compliance professionals on the danger of risks and fraud more rapidly.
The new SaaS model comes as an addition to KYC Portal CLM’s suite of solutions, focusing on delivering businesses with the flexibility to operate the platform in the cloud, removing the need for on-site infrastructure investments and ongoing maintenance. Additionally, the SaaS offering aims to address the needs and demands of compliance-focused companies, facilitating advanced KYC and AML management without being bound to on-premises infrastructure or requiring internal teams to manage such systems. The platform enables KYC Portal CLM to develop and configure the Azure subscription specific to each client’s requirements and volume.
Furthermore, the SaaS approach focuses on providing companies with a scalable compliance solution, with them having the ability to adjust the KYC Portal CLM environment as they expand their operations. The service also optimises vendor management, as one supplier oversees all aspects of the solution, enabling clients to raise support tickets and address issues via a single provider. KYC Portal CLM’s model supports the meeting of requirements for regulations, including the Digital Operational Resilience Act (DORA), minimising the complexity of managing multiple systems and teams.
When commenting on the announcement, representatives from KYC Portal CLM mentioned that the SaaS model allows their company’s services to be more accessible and adaptable for a wider audience. Considering that the current regulatory landscape requires fast, secure, and scalable compliance tools, the company intends to offer these capabilities without the need for dedicated IT resources.
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