Attestanet™ is used by financial institutions to digitally onboard commercial accounts and comply with FINTRAC PCMLTFA requirements.
Meet Risk and Compliance Requirements
Fines, bad publicity and financial losses can be minimized using Attestanet. Using this service provides automated access to public records to validate business entities and their officers and directors. An attestor validates and adds missing information and completes an AML risk questionnaire. Attestanet will flag accounts if there are any changes or additional compliance requirements that have come into law.
Reduce Workload and Errors
Free up branch and customer front line staff from the manual work and paper based processes to onboard commercial customers. Ensure that the right, accurate and complete information is being found, gathered and included in all new customer records. Introduce self service new account openings for sole proprietors and small businesses. Use Attestanet during in-branch onboarding to ensure all beneficial ownership information and AML questions are addressed.
Improve Customer Experience
Make it easy for new commercial customers to sign up online and eliminate the need for them to book appointments in your branch to sign paperwork and show ID. With Attestanet you can reduce the time it takes to open an account from weeks to hours and update your own systems with data gathered through the attestation and onboarding process. Customize your onboarding questions based on key information your financial institution is gathering to improve customer engagement and retention.
Be More Competitive
Become an agile institution using Attestanet™ as part of your digital onboarding channel to acquire more customers better and faster. Simplify onboarding and prevent new account abandonment due to rigid and time consuming and outdated process regimes. Reduce the costs of compliance and customer acquisition through automation, self service, accuracy and speed. Use Securefact to help you innovate and compete against existing and emerging threats.
Key FeaturesAttestanet™ is designed to integrate with your core systems and works with other Securefact software services. Consider using the full Securefact Solution suite including SIDni™, LEV® and LienPerfect™
Business Entity Validation and Verification
Digitally find and collect beneficial ownership information from real-time public records, authoritative corporate registries and from new customers themselves. Get the key information you need to help you comply with AML regulatory requirements including names and addresses of Directors, Officers along with company ownership data. Attestanet™ is designed to automate these processes and integrate into your workflow or makes it simpler and faster to adopt new ones.
Web Based or Integrated
You can use Attestanet™ as standalone portal or integrate it with your legacy systems and applications, workflows and processes. Incorporate your own unique AML regulatory compliance and customer not present qualifiers too. Consider using the full Securefact KYC Solution suite including Attestanet™, SIDni™ and LEV®. Reconcile and improve data accuracy and confidence using automation and a designated attestor and make customer not present digital onboarding a reality.
Have your commercial account customers answer a series of AML/ATF risk questions and use the built in tool to easily choose the entity’s NAICS code. You can validate their identity using built-in, FINTRAC reviewed, credit bureau authentication procedure for ‘customer not present’ identification. Dig deeper by scanning all reported names through your AML/ATF PEP screening tool. Once onboarded, Attestanet™ monitors collected data over the course of the ‘business relationship’ to help you stay compliant with evolving FINTRAC and PCMLTFA regulatory requirements.
The Securefact team are here to help you get answers, provide you with insights and solutions in the ever changing compliance, know your customer and secured lending areas. You can leverage our expertise, experience and track record of offering compliance and loan origination related software and advisory services focused on protecting companies from risk and regulatory scrutiny, penalties, embarrassment, operational disruption and bankruptcy. Our passion is to build great software, deliver great services and have long lasting relationships with customers and giving them confidence in compliance.
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