DILIGENT
CUSTOMER DUE DILIGENCE SIMPLIFIED
Diligent solutions have been developed by financial services professionals with deep domain knowledge and first-hand experience of leading businesses and managing customer due diligence processes
Products Differentiators
Developed by Domain experts; Addresses industry challenges
Diligent
Typical CLM Solutions
Implementation Approach
Pre-configured
Saves implementation time and effort; Allows client policy experts to fine tune requirements
Requires Customisation
Significant time and effort in ‘customising’ solution to meet client requirements
Policy Execution
Consistent
System drives policy execution across client segments and locations
Error prone
Need for Frontline, Middle and Back-office interpretation of policies to ensure effective execution
Managing Policy & Regulatory changes
< 1 day
Zero coding for implementing changes for any parameter in configuration engine
3 - 12 months
Inflexible systems requiring code changes and associated time, effort and costs
Requirement generation (Any Client type & Location)
Single Click
Requirements generation for any Client type, Connected parties across locations
1 day to 3 weeks
Manual approach to generation of requirements by subject matter experts
Beneficial ownership
Automated (option)
Policy driven visually intuitive ownership trees linked to due diligence & documentation tabs
N/A or Manual
Not linked to policy requirements; manual construct and not intuitive (if functionality is available)
Workflows and Decisioning
Risk based
Checking, Review and Approval of KYC profiles configurable across client lifecyclle
Standardised approach
Changes to workflows and decisioning roles require code changes, resulting in additional time, effort and cost
Risk Assessment Engine
Fully configurable
Risk ratings & Parameters driving risk assessment configurable on the go
Fixed, hard-coded
Ongoing changes to risk assessment approach require code changes, resulting in additional time, effort and cost
Customer experience
Digital; Self service (option)
Precise requirement definition enables fully digital, simplified customer journeys
Manual
Customers will still need to manually provide data and documents to facilitate due diligence
Client KYC Profiles
Version Controlled
System maintains version controlled KYC profiles across Client life cycle; Always audit ready
NIL
No comprehensive profile maintained; Evidencing execution in line with policy remains a challenge
Cost of Compliance
> 50% saves
Fully configurable, risk based and digital execution maximises process efficiencies at minimal cost
Variable
Expensive change management costs; Process inefficiencies from manual, standardised approach to execution
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