Many financial firms have made Salesforce the go-to solution for customer relationship management (CRM) however connecting Salesforce with the internal and external systems needed to execute customer screening and associated risk assessment is far from easy.
Banks, Fintech companies and payment businesses are forced to manually extract and duplicate data from Salesforce to complete required director / disqualified UK director checks, KYC, Email Risk Assessment, AML Compliance queries and Know Your Business (KYB) look-ups and other such due diligence processes using legacy systems.
The new W2 Salesforce application has been designed to reduce the costs and complexity of client screening, not just at on-boarding but throughout every stage of the customer life-cycle; all the way from being a prospect to becoming a repeat customer.
The easily configured application integrates the W2 cloud-based Platform with Salesforce for seamless data exchange and real-time risk analytics and decisioning using industry leading data sources.
The new application includes the ability to operationalize industry-standard risk models in minutes and without any coding.
The application simplifies and accelerates the customer due diligence process, connects client account records and significantly reduces manual requirements thereby helping them comply with their Know Your Customer regulations in a more efficient manner.
- eKYC (including address lookup). An identity verification service that includes the full Electoral Roll, CCJ and Credit Lenders data. This service will leave a search footprint on the lending profile of the person you are requesting information about.
- Watchlist Check. The Watchlist service checks if a specified person or entity is held within a comprehensive dataset comprising PEP, Sanction, Adverse media content and enforcement watchlists from around the globe.
- eKYB (business report). Also known as a “Know Your Business” service, a full company report in which you can see all information held for the chosen business.
- Disqualified Director. Updated weekly, this service allows you to search the list of UK Disqualified Directors.
- Director Check. A simple means to check the database of UK directors held at Companies House.
- Email Risk Assessment. The email address is the most basic piece of data can make the difference in fraud prevention. Email risk assessment goes beyond basic comparative information and paints a complete picture based on the reputation of the buyer by using IP address, email and other information to validate identity.
With the W2 Salesforce application, companies can quickly and easily automate complex analytics and decisioning processes across their customer base – all from within their Salesforce environment.
W2 can enrich native Salesforce data with information maintained in other systems, which can be created and stored as custom fields within Salesforce.
While mandated Know Your Customer (KYC) and Anti-Money Laundering (AML) checks may be regarded as a burden by some, they are essential if we are to help rid the world of financial crime.
Customer screening is all too often seen as inefficient and time-consuming, depriving the company of revenue for the duration of the onboarding process and leaving the end customer dissatisfied by the delay and bureaucracy it entails.
Companies need a fast, simple way to connect Salesforce to their credit and lending decisioning processes.
This ensures customer decisioning is always using the most up-to-date risk models and utilising the latest external reference data sets; a capability that ensure only the right data is aggregated for each customer – identifying, verifying and validating the customer data when needed.
We all know that data is the lifeblood of any business and that, only clean data is useful data.
Regardless of how many records you have, dirty data will harm rather than help your business.
Call W2 today to hear more about our new Salesforce application on 0330 088 9542
Or, contact W2 via email today on email@example.com to hear more.