Beam KYC/CDD
Satisfy regulatory requirements with superior risk assessment

The challenge of compliance

Know-Your-Customer and Customer Due Diligence regulations help make sure financial institutions don’t do business with high-risk individuals and entities. But complying has involved a huge burden, requiring a combination of inadequate technologies and tedious manual intervention. The result? Poor customer experiences, inaccurate risk assessments, and huge fines.

Beam transforms your onboarding and KYC approach

Beam KYC/CDD is a comprehensive solution that incorporates Beam Transaction Monitoring and Beam Identity Verification. It connects to the industries’ top identity verification providers without the need for you to engage directly with the provider or set up additional data feeds. This integration allows you to validate that an entity is who they say they are so you can confidently decide whether to do business with them. Additional diligence can be triggered by specific actions, thresholds, and even analyst activity.

Cutting-edge sources

Previously untapped social, mobile, and geographic data give you deeper insight and stronger risk assessments for new and current customers. New data means more ways to observe irregularities in activity and a more comprehensive understanding of your customer profiles. Robust cross-checking means high-confidence scoring. The results are automatically fed back to the Beam system and displayed in Beam Investigator, where your analysts can approve, deny, or escalate. The decision process can also be automated based on user-defined criteria.

A full digital identity

Comprehensive risk assessment and identity verification go beyond the capabilities of legacy systems that just look at static data points such as name, address, date of birth, and SSN. Beam’s advanced analysis builds a full digital identity by looking at an entity’s device details, geo-location data, transaction history, social media, and the US Census. Defined whitelists for verified customers and blacklists for known fraudsters and criminals add additional confidence.

Protect your reputation with Beam

Beam KYC/CDD works seamlessly to expand on the capabilities of Beam Transaction Monitoring and Beam Identity Verification, allowing companies to confidently validate a customer’s identity, assess risk, and minimize penalties for non-compliance.

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