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Heliocor, 14 New St, London, EC2M 4HE
KYC & AUTOMATED ON-BOARDING FOR FINANCIAL SERVICES
"Failure to be able to adequately demonstrate resilient KYC process can lead to significant fines and reputational damage"

KYC is an increasingly critical process, becoming less something that needs to be done and more something that MUST be done right. Under AML Directive 4, it’s imperative to follow a clear, defined set of rules for Client Due Diligence (CDD), Extended Due Diligence (EDD) & Simplified Due Diligence (SDD - for quoted companies). 
 
If this wasn’t enough, with AML Directive 5, which came into force at the end of 2019, these rules become “turbo charged”, reducing reporting limits and transaction monitoring requirements. As well, much more stringent rules have been placed around UBOs and crypto-currencies.

A COMPREHENSIVE KYC / AML PROCESS

Dokstor automates what is primarily a manual process, improving quality and traceability whilst also reducing lead time and slashing cost.

Dokstor improves customer satisfaction by significantly reducing the work needed to gather and share documents; it helps you meet this increasing supervisory requirement, whilst simultaneously reducing administrative costs. Dokstor captures the customer’s data directly from ID documents and compares these to the data provided, thus automatically validating the documents. 

In this way, the organisation's team can respond to exception and high value-add activities instead of mundane ones. The team can manage the On-Boarding cases with a simple workflow, employing team members in different phases of the process (documents capture, validations, AML screening, risk assessment, and approval) and ensuring that a full audit trail is maintained.

Dokstor:
  • Reduces internal admin 
  • Improves the quality of data gathered 
  • Simplifies documents storage
  • Enables team work
  • Cuts costs by up to 80%
  • Shrinks the elapsed onboarding time from weeks to days
WHAT IS DOKSTOR?
Dokstor is an AI-enabled, multi-channel KYC platform that accelerates and simplifies the On-Boarding of customers, whether individuals, corporates, or employees.
Dokstor’s On-Boarding process removes the administrative overhead of collecting documentation. It moves the process from one driven by the organisation to one that is self-administered by the end-customer, saving time for all concerned. Effectively, the organisation configures what data and documents are required, then the customer on-boards themselves. The organisation’s internal team moves from a labour intensive administration function to an efficient, exception-based, high value-add approach.

Documents are captured, machine read, tagged with their own metadata, and saved to the secure document repository.
The identity, address, age, and AML screening status of the person can be automatically verified. As a result, much of the administrative overhead is removed, errors are reduced, and significant cost is stripped from the process, for both the On-Boarding team and the sales teams.

ALL DOCUMENTS IN ONE PLACE

It simplifies and automates the process of On-Boarding customers and clients by automating the capture, validating, and storage of ID documents. Dokstor also automates the process of indicating when documents are out of date in order to request a replacement document in line with the institutions policies on re-KYCing of customers. 
Doc Repository
It stores the client’s confidential documents securely and encrypted, so you never need to go searching for them again.
Alerts and reminders
It will remind you in advance when your documents are going to expire.
GDPR compliant
It makes it easy share documents with financial institutions when they need to be used for KYC and On-boarding, whilst maintaining all this data in a GDPR compliant manner.
Fast On-Boarding
It is easy for employees to manage the KYC On-Boarding process, to the pleasure of your customers.
DOKSTOR MOBILE
A mobile app for capturing information and document during the On-Boarding process. As a result, Dokstor changes a resource intense process into a more enjoyable one that is client self-administered.