Attestanet - KYC/Regulatory Compliance Solutions

Securefact's recently launched AttestanetTM solution is a fully outsourced managed service platform which enables fast, customer friendly 'customer not present' collection and validation of entity KYC information to meet FINTRAC requirements at time of onboarding and for ongoing entity monitoring. AttestanetTM will help Banks and Credit Unions digitally onboard new customers along with comply with pending PCMLTFA regulations. 

Features

Deployed as either a standalone portal or integrated with your core systems, AttestanetTM enables:

  • Validating, verifying and documenting the existence of any business entity
  • Ascertaining through real-time public records access to the relevant government corporate registry authority the names and addresses of all Directors, Officers and other relevant data
  • An authorized attestor for the entity being onboarded, uses the AttestanetTM platform to:
    • Document any discrepancies between the ‘public record’ and ‘customer statements’ relating to the names and addresses of the current Directors and Officers.
    • List the Beneficial Owners of the entity, piercing through any corporate veils down to the actual individual human beneficial owners
    • Answer a series of AML/ATF risk questions and use the built in tool to easily choose the entity’s NAICS code
    • Validate their identity using built-in, FINTRAC approved, credit bureau authentication procedure for ‘customer not present’ identification
  • Scan all reported names through your preferred/existing AML/ATF/PEP screening tool
  • Custom monitoring of all AttestanetTM collected data over the course of the ‘business relationship’ in compliance with latest changes to PCMLTFA
  • Provide full reporting, in PDF format, on line, or via data integration using web services/XML
  • Securely store all data in compliance with your data retention and audit policies

Benefits

AttestanetTM is a key component of an effective, efficient and fully compliant on-line onboarding solution for commercial account opening and ongoing monitoring. AttestanetTM enables a financial institution to:

  • Effectively meet internal and external risk and compliance requirements, for both client onboarding and ongoing monitoring
  • Remove the burden of compliance information collection from front line staff
  • Create a more satisfying customer experience with reduced onboarding abandonment rates
  • Create a competitive differentiator for our customers by reducing onboarding processing time