Verify identities and documents on our automated platform, or outsource to us and we’ll tailor a service for your individual needs.
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Keep your business moving and onboard clients quickly without having to compromise your CDD obligations.
Talk to our experts to explore our customer due diligence solutions, or book a demo to see how our powerful technology can help manage your AML obligations.
Centralised record keeping and data management systems means your customer due diligence documentation is securely kept in one place, which is easy to access, at any time, from anywhere in the world.
Experience seamless customer onboarding with our dynamic checklists. Constantly updated, you can trust that you’re using the freshest data reflecting every regulatory shift. Our risk-based approach ensures that ongoing client checks are always based on the most up-to-date information.
Take the hard work out of remembering when important due diligence checks are required using our alert systems. Set notifications for when PEP and sanctions need to be run, and when to review the risk rating of individual clients.
Create a better experience for your customers, minimise risk, and reclaim time so you can focus on your core business.
We provide custom-built CDD online submission processes designed to perfectly fit your industry’s unique needs, and work within your risk and compliance framework to reflect your brand’s identity.
We can help create and manage designated business groups (DBGs) so you can share the burden of key AML processes, such as compliance programmes, record keeping and customer due diligence.
Use our self-service tool to carry out due diligence checks yourself with instant results, or save time and mitigate risk with our fully outsourced, or partly outsourced services.
CDD is required when a business that is covered by AML regulations starts a business relationship with a customer or potential customer. It’s also required if their relationship with an existing customer ‘materially changes’ and they need to re-verify a customer identity and risk profile.
Simplified CDD
Simplified customer due diligence is relevant for customers who are already subject to transparency and public disclosure. These are prescribed entities. In New Zealand they are identified in section 18(2) of the AML/CFT Act and include government entities, local authorities or public service agencies.
Standard CDD
Standard CDD is the process entities must follow to confirm the identity of customers and ensure the personal data they have provided is genuine. In New Zealand CDD must take place when a cash transaction, or series of related cash
transactions, exceeds $10,000. If your customer is a trust, this triggers a need for enhanced customer due diligence, as they are automatically considered high risk.
Enhanced CDD
Enhanced CDD is used for high risk clients. In New Zealand, requirements fall under section 22 of the AML/CFT Act and may apply when a customer:
Ongoing CDD
Ongoing CDD should be conducted on existing customers, so you can ensure your record of your customer’s activities and/or transactions stay up to date and are as you expected. As an indication – where a customer is considered low risk, CDD should be done every 12 months and, if considered medium to high risk, this should occur every 6 months as well as any other time considered reasonable. You should have your ongoing due diligence requirements set out in your company programme.
Ongoing CDD ensures that the business relationship, including the activities and transactions within it, are consistent with your knowledge about the customer, their business, and risk profile.
In many cases you will not only need to carry out customer due diligence on your client, or the entity you are directly dealing with, but will also need to include:
