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Ondato launches Ondato OS for KYC and AML services

Tuesday 22 February 2022 14:57 CET | News

Lithuania-based fraud prevention company Ondato has rolled out the Ondato OS platform, designed for businesses that need to augment their KYC and AML processes.

The new platform offers financial institutions understanding of their exposure, with risk-based management of new and existing customers. The platform also provides increased process automation for efficiency and lower operating costs, minimising the risk of interventions and fines from regulatory authorities.

With Ondato OS, financial institutions can tailor information gathering according to the products or services selected by individual clients. The level of scrutiny needed for an insurance customer is not the same as needed to open a new bank account, for example, the company says. The OS has the ability to recognise these differences and only ask customers for data that is necessary to onboard them for the service they want, rather than a full suite of forms in every case. 

The new operating system consolidates, updates, and streamlines Ondato’s end-to-end compliance suite within a single platform. Each individual service has been upgraded and integrated into a new, holistic ‘compliance CRM’ that provides online financial players with clarity about new and existing customers, including those imported into Ondato from legacy compliance systems.


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Keywords: AML, KYC, fraud prevention, risk management, product launch, digitalisation
Categories: Fraud & Financial Crime
Companies: Ondato
Countries: World
This article is part of category

Fraud & Financial Crime

Ondato

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