Through this partnership, the two companies unveiled a new service that facilitates and automates KYC programs in AML processes. The goal of Protiviti and Appway’s solution is to unshackle analysts from rote data gathering, allowing them to spend more time on analysis and decision-making.
The solution consolidates data collection, review, aggregation, and validation into one automated system, which automates searches for negative news, sanctions, and internal blacklists. At the same time, it facilitates the Request for Information process, by allowing requests generated and tracked systematically. Moreover, the new technology cuts down on human error and untimely reporting, while providing dashboarding capabilities that provide more detailed and accurate metrics.
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