Risk Rating & Automated Client Review

DocFox’s Risk Rating and Automated Client Review solution is a fully-configurable, powerful tool which allows you to define, create and implement a risk rating solution that is unique to your business.

DocFox’s Risk Rating and Automated Client Review solution ensures:

Consistent risk rating

Ensure that all clients are risk-rated according to the same rules. DocFox standardises the process across your business and makes your risk rating methodology auditable.

Enhanced due diligence

DocFox enables you to collect enhanced due diligence documents, such as a source-of-funds, for high risk clients. 

Automated review reminders

You can specify a review period for low, medium, or high risk clients. DocFox will send you a date-triggered reminder so you never miss a review date.

Adopting a risk-based FICA approach is prescribed by legislation to help identify, assess and mitigate risk and prevent money-laundering. A one-size-fits-all approach to KYC can no longer be followed as each client will have their own unique risk profile.

The methodology for determining each client’s risk rating is guided by your RMCP and DocFox is configured to adhere to your specified rules.

We created a handy guide that summarises the FIC Amendment Act and it’s impact on Accountable Institutions.

Click here to receive your FICA Handbook.

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