MSB Compliance, included in Yodaforex
Tracking customer identification
We developed a dedicated tool named YodaScan, that will allow you to extract information from your customer driving licence and save it in a customer record in less than 10 seconds, including a copy of the driving licence, a picture of his face and his signature. In case you deal with foreign customers, YodaScan also read passports from more than a hundred different countries.
PEP, SIP, RCA and sanction list matching
We set up a partnership with Dow Jones.
This company compiles and updates daily informations concerning PEP, SIP, RCA and sanctions list fed from more than 900 lists, primarily as internal data source for the Wall Street Journal.
Our partnership allows us to access to this data, and more importantly to seamlessly interface it with our Yodaforex, resulting in a automatic and transparent real time check and match control of each and every identified customer and the storage of the results in the transaction record.
Coupled with YodaScan, this allows in one single process to collect customer information and perform the screening right from the transaction screen without any manual data entry and within seconds.
Split transactions, 10 000 $ threshold, business relation
You need to be certain the rules are complied with, any time, by anyone. That is why we made it impossible bypass them to have a transaction recorded if any of the basics is not followed :
- any 2 transactions from the same customer within 5 years are automatically detected, bringing a warning and qualifying the customer as business relation ;
- any set of transactions summing up more than 10 000 $ within 24 hours are automatically detected, bring a warning and requires complementary information.
The risk assessment module allows you to setup a personalized risk matrix (12 customizable criteria) matching your business risk analysis. Any nominative transaction will be screened against this matrix for risk assessment, and the resulting evaluation stored in transaction and customer records.
This is done in the steam of the transaction, and requires only a few clics and a couple of seconds (unless in exceptionally complex situations...), and strictly minimizes the extra time require afterwards for customer qualification.