Know Your Customer

/Know Your Customer

New Focus on Due Diligence Challenges with Extension of FATCA Deadlines

Addressing the challenges of workflow protocols for onboarding new account data and managing existing account data is receiving a new focus by financial institutions sparked by the IRS recently granting a six-month extension for key FATCA compliance deadlines.

Determining FATCA Classification

By |September 10th, 2013|FATCA, Know Your Customer, Posts|

Sanctions Lists, PEPs, and Database Checks–Regulatory Highlights

Nowhere in the regulations are financial institutions instructed to use a proprietary database or conduct a proscribed level of research when onboarding a new customer or counterparty. Yet this is where the bulk of the money is spent: in database costs, workflow tools, and investigative labor. As this is where the money is, we have […]

Best Practices in KYC for Financial Institutions

Kycwhitepaper
We have a new white paper out that summarizes what we see as the best practices in Know-Your-Customer workflow for commercial and investment banks.  Based on meetings with […]

By |November 16th, 2012|Alacra, AML and Compliance, Compliance, Know Your Customer, Posts|

Best Practices in KYC for Financial Institutions

Alacra has announced the release of “Best Practices in KYC for Financial Institutions,” a white paper which answers the question most frequently asked of Alacra during compliance workflow discussions, “What are other banks doing to meet these challenges?” Read more… Download White Paper

By |October 24th, 2012|Alacra, Compliance, Financial Regulations, Know Your Customer, White Papers|

The Total Economic Impact™ of Alacra Concordance In Financial Institutions—Forrester Consulting

Alacra Concordance provides a 400+ percent Return On Investment, according to a commissioned study. By smoothly aggregating disparate financial data, Alacra Concordance offered nearly $2 million in savings in productivity and labor costs.” Download White Paper

By |September 24th, 2007|Alacra, Know Your Customer, Reference Data, White Papers|

Alacra Compliance

A comprehensive new solution helping financial institutions comply with AML and BSA regulations. Alacra Compliance is a workflow-based application that provides a framework for consistent application of your existing AML procedures and processes. Alacra Compliance helps you streamline the on-boarding process by bringing together all of your research sources within a single application. Download White […]

By |October 24th, 2006|Alacra, Compliance, Know Your Customer, White Papers|