"ON-BOARDING IS A SIMPLE PROCESS’ SELDOM DONE WELL!"
Dokstor automates what is primarily a manual processes improving quality and traceability whilst also reducing lead time and slashing COST.
- Cut costs from by up to 80%
- Reduce hours of admin to minutes of checks (especially when dealing with a complex corporate entity with multiple directors and UBO’s)
- Shrink the elapsed time from weeks to days
WHY IS KYC SO IMPORTANT?
"Failure to be able to adequate demonstrate resilient KYC process can lead to significant fines and repetitional damage".
KYC is an increasingly critical process it is becoming less something that needs to be done and more something that MUST be done right. But how do you stop the administrative overhead becoming an uncontrollable overhead especially with the requirement under AML Directive 4 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 D5, which comes into force at the end of 2019, these rules become “Turbo Charged” reducing reporting limits and transaction monitoring requirement as well as much more stringent rules around UBO’s and Crypto Currencies supervisory responsibilities are increasing making the requirement to joining up the dots in your business more critical.
DOKSTOR SIMPLIFIES & IMPROVING THE PROCESS
"Dokstor also improves customer satisfaction by significantly reducing the work needed to gathering and sharing documents".
Dokstor helps you meet this increasing supervisory requirement, whilst simultaneously reducing administrative costs. Dokstor capture the clients and customers data directly from ID documents. We user OCR and machine-readable documents to automate the capture of data and document authentication.
Automatically creating and managing on-boarding cases passing them to your team for review when all information is gather or only passing exceptions require manual intervention and requests updated documents when needed.
Dokstor also saves and indexes documents and data to a secure repository so that they can be easily found. It can also share this verified data with other systems in your business.
- Reduces internal admin
- Improves the quality of data gathered
- Simplifies documents storage making them easy to locate
- Automatically request document updates
INTEGRATING WITH GLOBAL STANDARD "PEP AND SANCTION LISTS"
Dokstor can also carry out automated AML checks against PEP, Sanctions and Blacklists sources during the on-boarding process’ using our standard interface to Lexis Nexis as part of pre-on-boarding checks. If you use an alternative system such as Dowjones or Reuters, we can integrate to those too.
Dokstor supports you today and meet your needs tomorrow not just because it grows with you and tracks the demands of the regulations as they evolve over time
SHARING DOCUMENTS SECURELY FROM THE MOBILE APP
Documents are stores securely on the mobile device and if / when updated the new document is shared with the institution according to the sharing rules live on the mobile device.
Documents are shared in Dokstor from our mobile app. Documents can be added through an online web-based app however our experience is that the user prefers the convenience of the mobile app, which shares data with the Robolitics™ on-boarding module in real time, or as soon as adequate mobile network coverage is available. Therefore, supporting the integration of this data with pre-population of forms. Note, out process is fully GDPR compliant.
Dokstor enables the user to store and share a wide range of documents – thus providing an invaluable solution for storing with automated reminder about dates for renewals.
The top-level category of documents that can be stored within Dokstor are.
- Official Document - Passports, ID Cards, Driving License
- Personal document - Birth Certificate, Marriage certificate, Bank Statement, Utility Bill, Payslip, Proof of Age, “Right to Remain” Residence, Visas
- Employment document – Pay Slips, tax Documents.
- Corporate information – Company registration number / Certificate, P&L, Balance Sheet, Bank statement, list of directors, VAT No, PAYE details
- Insurance details – Certificates Various
The ability to store these images of documents securely so that they can easily be found (and shared) is a valuable benefit to the end user. It also enables the institution to request additional documents to provide a fuller understanding of the identity of the client / customer.
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 identifying when documents are out of date and request of replacement document in line with the institutions policies on re-KYCing of customers.
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 reminder you in advance when your documents are going to expiree
It makes it easy share and send documents to financial institutions when they need to be used for KYC and On-boarding, whilst keeping all this data in a GDPR compliant manner.
Easy and simple for employees to manage and send all the documentation when hired
A document management system that managing the sharing of document meta data and documents and manages the process of requesting replacement or updated documents and sharing these with all partners.