Kompliant offers a full-lifecycle compliance platform that automates the onboarding, verification, and monitoring processes for financial services, utilizing KYC, AML, and OFAC screening to mitigate fraud risk. The platform enhances operational efficiency by streamlining decision-making workflows and maintaining ongoing oversight, ensuring adherence to evolving regulatory requirements.
Funding
$15.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
LOFounders
Product
Problem
Financial institutions face challenges in efficiently managing compliance processes, including onboarding, verification, and monitoring, leading to increased operational costs and potential regulatory risks. Manual processes and siloed systems hinder the ability to quickly identify and mitigate fraud, while also providing a seamless customer experience.
Solution
Kompliant offers a full-lifecycle compliance platform designed to automate and streamline the entire compliance workflow for financial services. The platform facilitates secure and efficient customer onboarding, leveraging automated KYC, KYB, AML, OFAC, and MATCH screening to minimize the risk of onboarding fraudulent customers. By optimizing underwriting processes and decision support, Kompliant reduces the complexity of decision-making and ensures adherence to evolving regulatory requirements. Ongoing monitoring of owners and commercial entities, coupled with comprehensive audit trails, provides continuous oversight and enables proactive risk management.
Target Audience
Kompliant primarily serves financial institutions, payment processors, and other financial services companies seeking to enhance their compliance processes, reduce fraud risk, and improve operational efficiency.
Features
- Secure application processing for streamlined merchant onboarding.
- Automated verification of merchant data using best-in-class data services for document verification and compliance screenings.
- Optimized underwriting workflow for efficient review and decision-making.
- Ongoing refresh of data and verifications to identify bad actors and manage them out.
- Logging and tracking for analysis of process efficiency and regulatory compliance audit reporting.
- Configurable underwriting workflow and decisioning based on specific credit and risk policies.
- Simplified APIs and a white-label user experience for easy integration.
- Encryption of all data adhering to best-in-class information security standards.