Chartis released its inaugural Financial Crime and Compliance ranking (FCC50) – it showcases those in FinCrime and compliance that are setting new benchmarks for excellence across innovation, strategic direction, market presence, and customer success. Moody’s is ranked in the top 5 and named winner in two categories: perpetual KYC and shell company detection. We’re thrilled to be among the companies leading the charge against financial crime.
Download the full Chartis report here.
We address the need for continuous and automated customer due diligence in the financial services sector with a complete perpetual KYC (pKYC) solution. Traditionally, KYC processes have been periodic and manual, leading to inefficiencies and the potential for outdated or inaccurate customer information. Our approach leverages advanced technologies, including artificial intelligence and data analytics, to continuously monitor and analyze customer data across multiple sources. This real-time data aggregation and analysis enable organizations to identify and assess changes in customer risk profiles promptly. By automating the KYC process, our solution aims to enhance regulatory compliance, improve operational efficiencies, and reduce the risk of financial crimes, such as money laundering and fraud, by ensuring customer data is always current and comprehensive.
Our shell company indicator is designed to enhance transparency and risk assessment in financial markets by identifying and flagging companies that may be shell entities. Shell companies, often characterized by limited or no physical presence and minimal independent economic value, can be used for various purposes, including tax evasion, money laundering, and hiding ownership. Moody's solution employs advanced analytics, leveraging both traditional financial data and alternative data sources, to assess indicators of shell company characteristics. This includes analyzing patterns in corporate governance, operational activities, and financial transactions that deviate from those of conventional businesses. By providing a systematic approach to pinpoint potential shell companies, we assist our customers in making informed decisions.
For more information about how pKYC and shell company detection can help you transform your compliance program and third-party risk management, get in touch.
We work with customers to shape their know your customer (KYC), anti-financial crime, risk, and compliance programs around their risk appetite, operational needs, and strategic goals.
Learn more about our other award-winning solutions.