Regulatory and compliance requirements are constantly evolving. Keeping up to date with these requirements, and more importantly keeping your client’s corporate entity information up to date, has become increasingly important.
Your organization may have a backlog of records to validate or update to ensure compliance with Anti-Money Laundering (AML) / Know Your Customer (KYC) requirements, the Foreign Account Tax Compliance Act (FATCA) or possibly to Financial Action Task Force (FATF) policy recommendations.
Additionally, and on a go-forward basis, you may need to establish the industry classification of your clients by the North American Industry Classification System (NAICS), or ensure the fact that all of your clients are operating, legally active businesses within each respective provincial jurisdiction.
ESC’s proven and knowledgeable approach to addressing your corporate entity verification and validation requirements includes automated scoring methodologies. If your requirements call for bulk verification of your customer records, our methods determine match-confidence ratings for you to effectively enhance records with additional information that may not have been captured during initial on-boarding activities.
Our capabilities also include post on-boarding activity notification services to ensure compliance with evolving domestic and international financial regulatory requirements.