Solutions
Mitigate Risk
DIGITAL KYC
Digital KYC automates and streamlines the verification of prospective clients, enabling businesses to verify customer credentials within seconds. Successfully utilized in other territories, this solution demonstrates how motor dealers and their customers can benefit from a frictionless experience, automatically capturing identity and proof of residence and validating them against trusted external sources to offer unmatched convenience.
This capability provides a risk-based approach to ongoing KYC, increasing operational efficiency, ensuring regulatory certainty, and optimizing client experiences. The seamless and intuitive nature of this digital solution enables businesses to interact with their customers in a fully digital way.
Digital Risk Assessment for Customer Due Diligence
In other markets where Seriti’s Digital Risk Assessment is implemented, businesses have effectively applied a risk-based approach to establish relationships and conduct transactions. This tool helps clients identify, assess, monitor, mitigate, and manage their risk, ensuring compliance and operational efficiency.
Benefits
- Customer risk assessment scores integrated within transactions.
- Escalation to nominated individuals for decision-making.
- Comprehensive audit trails for transparency.
- Risk assessment reports on concluded and non-taken-up transactions.
- Forms part of the Dealer Compliance Deal File.
Customer Communication
In regions where this functionality is in use, dealerships utilize Seriti’s communication tools to send consent requests via SMS or email. Customers can agree to the processing of their information for vehicle purchases, ensuring compliance and efficiency in managing customer data.
Documentation Verification and Compliance Workflow
This workflow solution, successfully utilized in other territories, ensures that a defined set of documents is uploaded and reviewed for compliance. The Deal File remains accurate and complete throughout the process.
By streamlining and automating repeatable tasks, this solution reduces errors and enhances efficiency. It is visible across all transaction pages, displaying the required documents and steps to complete the workflow. This ensures all tasks are performed and documents uploaded before finalizing the transaction.
Consent for Direct Marketing
In markets with similar compliance requirements, businesses adhere to consent regulations by submitting requests for written consent to process personal information for direct marketing.
This process includes:
- Identifying the responsible party and their contact details.
- Identifying the data subject.
- Offering an option to consent to receiving direct marketing for specific goods or services.
- Obtaining a signature, either in person or electronically.
- Recording the date, location, and method of communication (e.g., email, phone, SMS).