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Xen.AI Customer Onboarding

by Xen.AI, Inc.

Customer Onboarding, Governance, Risk, and Compliance

The Banking, Financial Services, and Insurance (BFSI) - Fraud Risk and Compliance (FRC) system is a sophisticated software platform designed to enhance financial institutions' ability to operate securely while adhering to regulatory requirements. The key components and processes of the FRC system, focus on fraud detection, risk management, and compliance with Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) regulations.

Key Components of the FRC Solution


  1. Customer Onboarding - The onboarding process is vital for establishing a secure and compliant relationship between the financial institution and the customer. The process involves several steps to ensure adherence to AML and KYC (Know Your Customer) regulations, which are crucial for preventing financial crimes.
  2. Risk Assessment (PLANNED) - Risk assessment is an ongoing process that categorizes customers based on their risk levels and ensures appropriate measures are taken according to these assessments
  3. Transaction Monitoring (PLANNED) - Transaction monitoring is a critical aspect of AML compliance, aimed at detecting and preventing illegal activities such as money laundering, terrorist financing, and fraud.
  4. Case Management (PLANNED) - The case management system manages alerts generated by the transaction monitoring system, facilitating further investigation and regulatory reporting.


At a glance

https://store-images.s-microsoft.com/image/apps.8606.3b55bc7a-713d-4e1f-af4d-3b60cbafb81d.2fa7080b-6fea-4da5-ba28-8ca0fb9b75ef.bf66250e-9c2f-4f40-925b-6890818edcd3
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