Current regulatory scrutiny underscores the need for a thorough business customer due diligence and monitoring program. Learn how G2 Web Services can help you improve your regulatory compliance, increase your operational efficiency and better manage risk.
G2 KYC Solutions complement your existing tools and processes for BSA/AML compliance by providing unique transparency into your business customer portfolio. We combine the G2 Business Data Map™ — over 13 years of proprietary data on millions of business customers and billions of connections — with advanced software, the expertise of highly skilled analysts and data science to deliver Business Customer Intelligence. This gives you unique portfolio visibility and enhanced KYC.
Uncover misclassified business customers and identify unknown high-risk customers. Correct errors in NAICS lists, terminate prohibited businesses and investigate inactive websites.
Screen your portfolio against sanction lists, watch lists and PEPs. Check for consumer complaints and negative news using thousands of sources. Monitor your business customers for declining reputation.
Monitor business customers for ongoing risk including prior terminations from other financial institutions, changes in website content, the sale of high-risk goods or services and more.
We were under regulatory scrutiny to do more to know our business customers and validate our ACH originators, specifically our Third-Party Payment Processors (TPPPs). We had limited insight into our TPPPs’ portfolios and quite frankly, we didn’t know anything about their customers. G2 helped us create a program that provided much greater transparency into our business customers and our customer’s customers, and brought to light unknown risk in our portfolio. It turns out we had hundreds of prohibited originators with access to our ACH rails and thousands of high-risk customers. We are now able to better manage our customers and our customer’s customers, which provided portfolio transparency and satisfied our regulators.Large ODFI