All financial organisations have a duty to prevent money laundering and to on-board their customers reliably, screening for potential bad actors.

• Fines for AML and KYC non-compliance are getting bigger
• Challengers can on-board customers and merchants more quickly
• Merchants and customers require a fast, seamless, end-to-end experience

Organisations who need to implement AML and KYC face several common pain-points, which include:

• Complexity and investment required to deploy proprietary AML and KYC solutions
• KYC and AML regulations change constantly, requiring solutions to be updated frequently, securely and traceably
• Many organisations need to do retrospective KYC at scale, requiring spiky compute and storage
• Lack of experience with relevant data services

Kainos delivers a combination of data integration with onboarding workflow to provide a flexible, cost-effective and highly scalable AML and KYC solution.

When a new customer or merchant is to be on-boarded, this offering triggers AML and KYC processes using a combination of the Camunda workflow and rules engine, bespoke software code and data integration.