Ongoing due-diligence

Ongoing due-diligence

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Ongoing Due Diligence. This feature allows you to schedule your customers to renew their data/answers to questionnaires etc. In simple words this is how it works:

  1. Schedule name - For each schedule that you are creating it need to have a name. The recommendation is to set a name that is descriptive of what it is for. E.g., High-risk.

  2. Risk score model(s) - As describe above you’ll need to decide and configure to which risk score model(s) the schedule should apply to. Meaning that only entities that have a risk score using these models will have this scheduling applied. E.g.., Customer Risk Score

  3. Risk score interval - Select the range of the risk score that this schedule will apply to. E.g., Greater than or equal to 3 and Less than or equal to 4 (meaning your customers with the highest risk).

  4. Monitored properties - Select the properties of your customers that should be monitored to ensure that you have up-to-date information about your customers. E.g., address, organization status, questionnaire answers to 3 questions.

  5. Refresh frequency - Decide how often/how old the data in the monitored properties can be. E.g., 12 months.

  6. Advanced notice - Decide how far in advance you want to be notified regarding the expiring monitored properties.

Automate your compliance now

Accelerating KYC, KYB, and AML compliance through intelligent onboarding, risk scoring, and transaction monitoring for regulated businesses.

Risk score view in the Bits dashboard

Automate your compliance now

Accelerating KYC, KYB, and AML compliance through intelligent onboarding, risk scoring, and transaction monitoring for regulated businesses.

Risk score view in the Bits dashboard

Automate your compliance now

Accelerating KYC, KYB, and AML compliance through intelligent onboarding, risk scoring, and transaction monitoring for regulated businesses.

Risk score view in the Bits dashboard