Customer Risk Assessment

AML Solution

Customer Risk Assessment

Get accurate knowledge of the risks associated with your customers, identify high risk entities and make informed decisions to uphold compliance with AML regulations.

Uphold compliance with empowered, informed decision making

Having the capability to evaluate and categorise the risk associated with individual customers or entities, our Customer Risk Assessment solution has been designed specifically to meet the needs of your compliance team.

An advanced financial crime compliance solution, our Continuous Risk Assessment (CRA) tool aids your financial institution in continuously and dynamically evaluating customer risk throughout their entire life cycle. To achieve this, it leverages various data sources, algorithms, and risk assessment methodologies to determine the level of risk posed by customers.

Integrated as a module within our Anti-Money Laundering Suite, CRA facilitates the most sophisticated and automated ongoing review of various factors influencing customer risk. Its user-friendly interface allows your organisation to easily configure and test complex CRA rules across different geographies, business units or clients, ensuring consistent and continuous risk assessments.

With intelligent dynamic client segmentation, CRA is capable of mitigating risks and automatically resolving alerts, in turn saving the time of your team for operations that matter. Adding to this, in case of any alerts generated through suspicious activities, transactions, or other risk events, our CRA seamlessly applies screening and monitoring rules defined by the organisation’s risk policies in response.

FEATURES

Protect your business from dealing with high risk customers

Gain a dynamic understanding of your customer risk profile with our real-time customer scoring feature.

Using predefined rules, algorithms, and risk models, assign risk scores to individual customers in real time, based on their attributes, behavior, and other risk indicators.

Key features

Embrace Evolving Risks with Streamlined & Event-Driven Risk Assessments

In line with the changes in customers’ profiles and respective risk rating, generate automated risk assessments.

Key features

Generate automated risk assessments triggered by significant events in customer profiles, such as address changes, transaction patterns, or external risk indicators.
Conduct streamlined periodic reviews at predetermined intervals to ensure comprehensive and continuous risk evaluations.
Continuously monitor and adjust risk ratings based on the latest customer data and evolving risk factors.
Identify and address emerging risks early on through timely risk score updates, allowing for informed mitigation strategies.

Unleash Granular Control and Dynamic Risk Assessment with Our Customizable AML risk assessment Solution

Benefit from the flexibility to treat the mandatory and/or missing information, default scores and dynamic weighting, overriding factor options and multiple corresponding values against any given factor

Key features

Define how to address missing data crucial to risk assessment. You can choose to assign default values, flag for further investigation, or implement alternative calculations based on available data.
Establish baseline risk scores for various factors or customer segments, providing a foundation for individualized risk assessment.
Utilize dynamic weighting
Overriding factor options
Multiple corresponding values

Conduct comprehensive risk assessment by integrating with various internal and external third party data sources such as transaction data, watchlists, sanctions lists, politically exposed persons (PEP) databases.

Our comprehensive AML risk assessment solution goes beyond basic information to provide a holistic view of potential risks. We achieve this by enabling seamless integration with various data sources, both internal and external

Key features

Leverage transaction monitoring data, including transaction size, frequency, source, and destination, to identify suspicious patterns and flag potential money laundering activities.
Integrate customer databases for access to customer profiles, location details, past transactions, and other relevant information to build a complete customer risk picture.
Access real-time updates on watchlists and sanctions lists maintained by government agencies and financial institutions worldwide.
Integrate with PEP databases to identify customers with heightened risk due to their political connections. This includes government officials, their immediate family members, and close associates

By leveraging customer risk assessments across your AML solutions, you can build a more efficient, accurate, and comprehensive defense against financial crime.

Utilize the benefits of Customer Risk Assessments in other AML solutions such as transaction monitoring and watchlist screening.

Key features

CRAs create a unified risk language throughout your AML program. The risk profile assigned to a customer is used consistently across all AML solutions, ensuring a cohesive approach to risk mitigation.
Integrate customer risk data with other AML systems to gain a holistic view of risk across your customer base. This empowers you to make informed decisions regarding investigations, resource allocation, and overall AML strategy.

Enhance Scrutiny with Enhanced Due Diligence (EDD) Flagging

Enhance scrutiny by flagging customers for EDD .Gather additional information, perform deeper investigations, and apply more stringent monitoring measures to mitigate identified risks.

Key features

Leverage customer risk assessments, transaction monitoring data, watchlist screening results, and other relevant factors to automatically trigger EDD for high-risk customers. This ensures prompt identification of potential threats.
Enable authorized personnel to manually flag customers for EDD based on specific concerns or red flags identified during interactions or investigations.
Demonstrate a risk-based approach to AML compliance, fulfilling regulatory requirements regarding EDD for high-risk customers.
Gain valuable insights from EDD investigations to make informed decisions about customer relationships, transaction approvals, and resource allocation.

Our system categorizes your customers as per varying risk levels that helps you in making risk mitigation strategies.

Our AML solution empowers you to segment your customer base based on their dynamic risk scores generated through comprehensive risk assessments. This segmentation provides a critical foundation for developing tailored risk mitigation strategies that are both efficient and effective

Key features

Prioritize your resources by focusing on high-risk customers who require closer scrutiny and implementing stringent monitoring measures
Apply proportionate controls based on risk levels. Low-risk customers may require less intensive monitoring, allowing you to streamline workflows and optimize resource utilization.
Gain a holistic view of your risk landscape by understanding the overall risk distribution within your customer base. This enables you to identify potential areas of concern and prioritize efforts accordingly.
Improved Decision-Making
Develop specific risk mitigation strategies for each risk tier. For example, high-risk customers might require more frequent EDD procedures, while low-risk customers might need periodic reviews as their risk profiles evolve.
Customizable Risk Tiers

Our AML solution goes beyond static assessments to identify potential red flags through continuous monitoring of customer profiles and behavior patterns

Flag any change in customer profile or an anomaly in the expected behavior pattern in customer transactions

Key features

Gain unparalleled control over your data through our flexible filtering system

Calculate AML risk scores of new and existing customers, and exercise flexibility, accuracy, and control on your data through our solution’s capability of adding filters to customize your search, and create, amend and/or delete assessments.

Key features

Utilize customizable filters to easily search and retrieve specific customer information based on various criteria, such as risk score range, industry, location, or transaction type. This allows for efficient investigation and management of high-risk customers.
Maintain complete ownership and control over your customer data. Our solution adheres to data privacy regulations and ensures secure data storage and access.

Gain a dynamic understanding of your customer risk profile with our real-time customer scoring feature.

Using predefined rules, algorithms, and risk models, assign risk scores to individual customers in real time, based on their attributes, behavior, and other risk indicators.

Key features

Embrace Evolving Risks with Streamlined & Event-Driven Risk Assessments

In line with the changes in customers’ profiles and respective risk rating, generate automated risk assessments.

Key features

Generate automated risk assessments triggered by significant events in customer profiles, such as address changes, transaction patterns, or external risk indicators.
Conduct streamlined periodic reviews at predetermined intervals to ensure comprehensive and continuous risk evaluations.
Continuously monitor and adjust risk ratings based on the latest customer data and evolving risk factors.
Identify and address emerging risks early on through timely risk score updates, allowing for informed mitigation strategies.

Unleash Granular Control and Dynamic Risk Assessment with Our Customizable AML risk assessment Solution

Key features

Define how to address missing data crucial to risk assessment. You can choose to assign default values, flag for further investigation, or implement alternative calculations based on available data.
Establish baseline risk scores for various factors or customer segments, providing a foundation for individualized risk assessment.
Utilize dynamic weighting
Overriding factor options
Multiple corresponding values

Key features

Leverage transaction monitoring data, including transaction size, frequency, source, and destination, to identify suspicious patterns and flag potential money laundering activities.
Integrate customer databases for access to customer profiles, location details, past transactions, and other relevant information to build a complete customer risk picture.
Access real-time updates on watchlists and sanctions lists maintained by government agencies and financial institutions worldwide.
Integrate with PEP databases to identify customers with heightened risk due to their political connections. This includes government officials, their immediate family members, and close associates

By leveraging customer risk assessments across your AML solutions, you can build a more efficient, accurate, and comprehensive defense against financial crime.

Utilize the benefits of Customer Risk Assessments in other AML solutions such as transaction monitoring and watchlist screening.

Key features

CRAs create a unified risk language throughout your AML program. The risk profile assigned to a customer is used consistently across all AML solutions, ensuring a cohesive approach to risk mitigation.
Integrate customer risk data with other AML systems to gain a holistic view of risk across your customer base. This empowers you to make informed decisions regarding investigations, resource allocation, and overall AML strategy.

Enhance Scrutiny with Enhanced Due Diligence (EDD) Flagging

Enhance scrutiny by flagging customers for EDD .Gather additional information, perform deeper investigations, and apply more stringent monitoring measures to mitigate identified risks.

Key features

Leverage customer risk assessments, transaction monitoring data, watchlist screening results, and other relevant factors to automatically trigger EDD for high-risk customers. This ensures prompt identification of potential threats.
Enable authorized personnel to manually flag customers for EDD based on specific concerns or red flags identified during interactions or investigations.
Demonstrate a risk-based approach to AML compliance, fulfilling regulatory requirements regarding EDD for high-risk customers.
Gain valuable insights from EDD investigations to make informed decisions about customer relationships, transaction approvals, and resource allocation.

Our system categorizes your customers as per varying risk levels that helps you in making risk mitigation strategies.

Key features

Prioritize your resources by focusing on high-risk customers who require closer scrutiny and implementing stringent monitoring measures
Apply proportionate controls based on risk levels. Low-risk customers may require less intensive monitoring, allowing you to streamline workflows and optimize resource utilization.
Gain a holistic view of your risk landscape by understanding the overall risk distribution within your customer base. This enables you to identify potential areas of concern and prioritize efforts accordingly.
Improved Decision-Making
Develop specific risk mitigation strategies for each risk tier. For example, high-risk customers might require more frequent EDD procedures, while low-risk customers might need periodic reviews as their risk profiles evolve.
Customizable Risk Tiers

Our AML solution goes beyond static assessments to identify potential red flags through continuous monitoring of customer profiles and behavior patterns

Flag any change in customer profile or an anomaly in the expected behavior pattern in customer transactions

Key features

Gain unparalleled control over your data through our flexible filtering system

Key features

Utilize customizable filters to easily search and retrieve specific customer information based on various criteria, such as risk score range, industry, location, or transaction type. This allows for efficient investigation and management of high-risk customers.
Maintain complete ownership and control over your customer data. Our solution adheres to data privacy regulations and ensures secure data storage and access.

TRUSTED BY

NEWSROOM

Press Release

Meezan Bank goes live with BenchMatrix’s GRC platform for Enterprise Technology Governance & Risk Management Framework (ETGRM)

Meezan Bank, Pakistan’s first and largest Islamic bank, in collaboration with BenchMatrix, has successfully launched the RiskNucleus® GRC Platform for Enterprise Technology Governance & Risk

Press Release

Pak Oman Investment Company Selects BenchMatrix’s RiskNucleus® Loan Origination System

Pak Oman Investment Company has selected BenchMatrix’s RiskNucleus Loan Origination System (LOS) to enhance its credit approval and risk management processes. This strategic move is

Press Release

Raqami Islamic Digital Bank Selects BenchMatrix for the Implementation of RiskNucleus® Anti-Money Laundering Solution

Karachi, Pakistan – Raqami Islamic Digital Bank, one of the most prominent upcoming Islamic digital banks in Pakistan, has selected BenchMatrix’s proprietary solution, RiskNucleus® as

WHY BENCHMATRIX

Global industry expertise

With 14+ years of experience in providing tech solutions & services to financial institutions around the world, we understand all possible the complexities and challenges.

Seamless integration

We understand the importance of ensuring your tools and processes work smoothly together. Our top-notch solutions seamlessly integrate your existing core systems, making work more efficient.

Cutting-edge technology

We leverage advanced technologies to help you stay ahead in the world of finance by empowering you to take control of operations, risks & compliance at all levels.

Scalable solutions

Ranging from small & medium sized enterprises to expansive global enterprises, our solution's adaptability and scalability enable us to mould them your way.

Dedicated support

From implementation to ongoing assistance, we provide exceptional support throughout your journey through a dedicated customer success manager for you.

Flexible deployment

We ensure you get the solution that is the right fit for your organisation. From on-premises deployment to cloud deployment, we are your partner in success.

Reach out to us

We’re happy to answer any questions you may have and help you determine which of our services best fit your needs.

Committed to delivering excellence

What happens next?

We schedule an introductory call

We do a
discovery meeting

We share a tailored proposal