Customer 360 and Risk Solution
Key Features
Data Integration and Customer Profile Creation
The customer 360 and risk solution integrates data from various sources, including customer onboarding forms, transaction records, credit history, and external data providers. It creates a unified customer profile that includes demographic information, financial behavior, transactional history, and any associated relationships with other customers or entities.
Graph Representation
The customer data is structured as a graph database, where each customer is represented as a node, and relationships between customers (e.g., family members, business partners) and their transactions are represented as edges. This graph representation enables a holistic view of customer relationships and interactions.
Graph Algorithms for Risk Analysis
Graph algorithms are applied to analyze the relationships and connections between customers, detecting any patterns or clusters that may indicate potential risks, such as money laundering, fraud rings, or organized crime networks. The graph analysis enhances risk assessment by considering not only individual customer behavior but also their interactions within the larger network.
AI-driven Risk Scoring
AI and machine learning algorithms process customer data and transaction patterns to assign risk scores to each customer. These risk scores reflect the likelihood of the customer being involved in suspicious or fraudulent activities.
Know Your Customer (KYC) Compliance
The solution ensures compliance with KYC regulations by verifying customer identities, assessing the legitimacy of their financial activities, and monitoring for any changes or discrepancies in their profiles.
Continuous Monitoring and Real-time Alerts
The customer 360 and risk solution continuously monitors customer activities and transactions in real-time. It generates alerts for potential high-risk events or behavior deviations, enabling timely intervention and risk mitigation.
Risk Reporting and Compliance
The solution generates comprehensive risk reports that provide insights into customer risk profiles and compliance with regulatory requirements. These reports help banks demonstrate adherence to KYC guidelines during audits and regulatory examinations.
Benefits
Enhanced Risk Assessment
The combination of graph algorithms and AI-driven risk scoring provides a more accurate and comprehensive assessment of customer risk, reducing false negatives and false positives.
Proactive Risk Management
Real-time monitoring and alerts enable banks to proactively address potential risks, preventing financial losses and reputational damage.
KYC Compliance
The solution ensures compliance with KYC regulations, helping banks meet regulatory requirements and prevent exposure to penalties and sanctions.
Improved Customer Experience
By leveraging customer 360 insights, banks can tailor their services and offers to individual customers, leading to improved customer satisfaction and retention.
Fraud Detection
The solution aids in detecting and preventing fraudulent activities, safeguarding both the bank and its customers from financial crimes.
Efficient Investigations
Graph-based data representation simplifies investigations by providing a clear visualization of customer relationships and transactions.
Cost Savings
Efficient risk assessment and compliance processes help banks save resources and reduce operational costs associated with risk management.
In conclusion, Pascal Customer 360 and Risk solution that uses graph algorithms and AI for KYC risk scoring offers comprehensive customer insights and intelligent risk assessment. By combining graph technology with AI capabilities, the solution empowers banks to make informed decisions, mitigate risks, and ensure compliance with regulatory requirements, ultimately strengthening their ability to manage customer risk effectively.