KYC/AML verification workflows

Purpose

1.1. Automate KYC/AML verification workflows to ensure regulatory compliance, streamline customer onboarding, and manage risk for insurance agencies.
1.2. Automate identity document collection, verification, screening against sanction lists, PEP checks, continuous monitoring, and audit reporting.
1.3. Minimize manual intervention in compliance data entry, approvals, escalation of suspicious activity, and regulatory submissions.

Trigger Conditions

2.1. New insurance client registration or quote request initiates automated KYC/AML workflow.
2.2. Periodic compliance review schedules induce automated ongoing monitoring.
2.3. Updates in client profiles, document expirations, or geographic risk changes activate automated re-screening.

Platform Variants

3.1. Onfido
• Feature/Setting: Automated Document Verification API; configure API key, webhook for status updates.
3.2. Alloy
• Feature/Setting: Automated KYC/AML Decision Engine; use ‘/cases’ endpoint to ingest new customer data.
3.3. Jumio
• Feature/Setting: ID Verification API; set up automated callback URL for completed verifications.
3.4. Trulioo
• Feature/Setting: GlobalGateway API; automate requests to ‘Verify’ endpoint for real-time background checks.
3.5. LexisNexis Risk Solutions
• Feature/Setting: Bridger Insight XG API; set automated batch screening config for clients.
3.6. DocuSign
• Feature/Setting: Automated eSignature API; automate sending and retrieval of signed KYC documents.
3.7. Salesforce
• Feature/Setting: Flow/Process Builder; event-driven automation for KYC task assignments.
3.8. Workato
• Feature/Setting: Automated Workflow Recipes; connect onboarding form to instant KYC check.
3.9. Slack
• Feature/Setting: Webhook Notifications; automate KYC status alerts to compliance channel.
3.10. SAP
• Feature/Setting: SAP Business Rules Service; automate risk scoring for client profiles.
3.11. Microsoft Power Automate
• Feature/Setting: Automated Cloud Flow; trigger custom alerts based on verification outcome.
3.12. MongoDB Atlas
• Feature/Setting: Data Triggers; automate KYC document upload and status updates.
3.13. AWS Lambda
• Feature/Setting: Serverless Function; automate microservice for checking watchlists on client onboarding.
3.14. Google Cloud Functions
• Feature/Setting: Automated KYC processor; handle real-time callbacks from provider APIs.
3.15. Zendesk
• Feature/Setting: Automated Ticket Creation; flag incomplete verifications for manual review.
3.16. HubSpot
• Feature/Setting: Workflows Automation; initiate KYC email sequence on lead conversion.
3.17. Mailgun
• Feature/Setting: Automated Transactional Email API; notify customers about KYC status.
3.18. Twilio
• Feature/Setting: Programmable SMS API; send automated SMS confirmation on KYC approval.
3.19. Okta
• Feature/Setting: Lifecycle Management; automate access provisioning based on KYC completion.
3.20. IdentityMind
• Feature/Setting: API Risk Score; automate risk-based screening for new policies.

Benefits

4.1. Automates compliance for all onboarding and existing clients with continuous risk monitoring.
4.2. Streamlines document collection and verification, reducing onboarding cycle times.
4.3. Minimizes human errors in KYC/AML processes via end-to-end automation.
4.4. Enables scalable, auditable, and regulatory-compliant document and risk management.
4.5. Enhances detection of fraudulent or high-risk entities through automated screening logic.