KYC2020
About KYC2020
KYC2020 provides a real-time screening platform that utilizes AI-driven decision-making to reduce false positives and streamline client onboarding for Anti-Money Laundering (AML) compliance. The solution aggregates and continuously updates global watchlists and adverse media, significantly lowering the manual effort and overall costs associated with compliance processes.
<problem> Financial institutions face increasing challenges in meeting Anti-Money Laundering (AML) compliance requirements due to the rising complexity of global regulations and the need to screen against extensive watchlists. Traditional screening methods often result in high false positive rates, leading to increased manual effort and operational costs. </problem> <solution> KYC2020 offers an AI-driven screening platform designed to streamline AML compliance and reduce the burden of manual review. The platform aggregates and continuously updates global watchlists, sanctions lists, and adverse media data, providing comprehensive coverage for identifying potential risks. KYC2020's DecisionIQ technology uses collaborative intelligence to automatically clear false positives, delivering real-time, actionable screening decisions supported by auditable proof-of-work. Integrated case management tools and customizable monitoring features further enhance efficiency, enabling organizations to accelerate client onboarding and maintain ongoing compliance with minimal manual intervention. </solution> <features> - AI-powered DecisionIQ engine for automated false positive reduction and real-time risk assessment - Comprehensive data aggregation from global sanctions lists, PEP databases, and adverse media sources - Customizable risk thresholds and search preferences to align with specific compliance requirements - Efficient case management tools for rapid review, bulk clearing, and annotation of screening results - SanctionWatch feature for persistent monitoring of OFAC and global sanction list changes with email alerts - KYB Report functionality to verify business entities, corporate structures, and related parties - API-first, service-oriented architecture (SOA) for quick integration with existing systems - SOC 2 and ISO27001 certifications ensuring data privacy and information security </features> <target_audience> KYC2020 serves banks, credit unions, money service businesses (MSBs), fintech companies, and non-financial institutions seeking to enhance their AML compliance programs and reduce operational costs. </target_audience> <revenue_model> KYC2020 offers tiered pricing plans for its DecisionIQ platform and a pay-as-you-go option for its SmartScan service, with pricing as low as $0.03 per scan. </revenue_model>
What does KYC2020 do?
KYC2020 provides a real-time screening platform that utilizes AI-driven decision-making to reduce false positives and streamline client onboarding for Anti-Money Laundering (AML) compliance. The solution aggregates and continuously updates global watchlists and adverse media, significantly lowering the manual effort and overall costs associated with compliance processes.
Where is KYC2020 located?
KYC2020 is based in Chicago, United States.
When was KYC2020 founded?
KYC2020 was founded in 2014.
- Location
- Chicago, United States
- Founded
- 2014
- Employees
- 22 employees