Diligent provides a modular, risk-based digital Customer Due Diligence (CDD) solution that automates compliance processes for financial institutions, ensuring adherence to evolving regulatory requirements. By utilizing configurable policies and APIs for data sourcing, the platform reduces compliance costs by over 50% while maintaining an audit-ready KYC profile for clients throughout their lifecycle.
Funding
Funding not disclosed
Founders
Product
Problem
Financial institutions face challenges in adhering to evolving regulatory requirements for Customer Due Diligence (CDD). Manual processes lead to inconsistencies, errors, and difficulties in managing frequent regulatory and policy changes, resulting in inefficient operations and adverse audit outcomes.
Solution
Diligent provides a modular, risk-based digital CDD platform that automates compliance processes across the customer lifecycle. The platform utilizes configurable policies and APIs for data sourcing to ensure adherence to regulatory standards. By digitizing and automating CDD processes, Diligent enables financial institutions to maintain audit-ready KYC profiles, reduce compliance costs, and improve operational efficiency. The system supports centralized and decentralized operating models and allows for zero-code configuration, enabling businesses to implement changes without additional effort or cost.
Target Audience
The primary customers are global banks, regional banks, private banks, asset managers, and payment service providers.
Features
- Configurable policies within the system to enable fully compliant digital customer and employee journeys.
- Zero-code configuration allows for re-configuration of changes on the go.
- Version-controlled KYC profiles of clients and connected parties across the lifecycle.
- Supports both centralized and decentralized operating models.
- Automates and digitizes due diligence processes across the client lifecycle.
- Provides solutions for Enterprise CDD, ID&V Monitor, and BO UnWrapper.