Knowing your customer is a fundamental part of meeting the FSA compliance requirements for "customer due diligence" Is your organisation compliant? Learn how this is achieved using smart data to reduce risk, drive customer understanding and identify potential fraud and potential cases of anti money laundering activities

1. Smart data uses for Customer Due Diligence (CDD)
cim.neopost.co.uk Neopost Customer Information Management. 2015. All Rights Reserved
Smart data uses for Customer Due Diligence (CDD)
Risk is not the same for everyone and varies across industries. Automate the High Precision
Matching against risk-indicators within your customer data for a smarter compliance strategy.
Financial and Insurance Services
Financial services and Insurance organisations
are continually required to adhere to more
stringent measures in how they on-board and
manage new and existing customers. Customer
Due Diligence (CDD) and knowing your customer
(KYC) are both regulatory requirements designed
to help banks and Insurance companies protect
themselves against being used, intentionally or
unintentionally, by criminal elements for money
laundering and to prevent the occurrence of
fraudulent activity.
The resulting processes and systems also provide
a platform for all financial services organisations
to better understand their customers across
multiple channels, managing risks associated
to personal wealth, personal investments and
corporate lending. The main areas of focus
cover processes associated with customer on-
boarding, propensity to commit financial crime,
and determining perceived customer behaviour
against actual customer behaviour.
Data Quality and Risk - Reward
Poor data quality often leads to insufficient
insight into a company’s or customer’s risk
profile. As a financial institution, you must also
comply with several regulatory and legislative
requirements. This means that you run the risk
of non-compliance with Basel III or Solvency II,
for example, and that risk is unacceptable. By
achieving proper, flexible implementation of risk
management, governance and compliance rules
you do more than merely ‘comply with the rules’.
Smart Data Management: Risk and
Compliance
Data drives the success of any strategy
associated to “knowing your customer”.
It facilitates the ability to understand your
customer data and then match and enrich
against multiple industry-standard sanction lists
and internal data sources.
Advanced High Precision Matching, data
cleansing, data profiling and data monitoring

2. Smart data uses for Customer Due Diligence (CDD)
cim.neopost.co.uk Neopost Customer Information Management. 2015. All Rights Reserved
technology help you understand the core
challenges associated with delivering a
successful customer compliance and due
diligence strategy.
Neopost CIM, has a proven track record helping
organisations mitigate risk associated against
financial crime and fraudulent behaviour,
through the combination of highly developed
probabilistic and deterministic matching
methods, engineered to identify patterns the
way we as humans do.
Why Neopost CIM for Customer Due
Diligence?
• A market leading multi-layer linguistic
approach using “Phonetics” and “fuzzy logic”
enables organisations to match in greater depth
against current and historical risk indicators
that support the customer due diligence
and on-boarding process
• The ability to easily define and implement
flexible, bespoke Data Quality rules to support
regulatory requirements associated with the on-
going CDD and compliance processes required
by the FSA
• Automated checks against multiple 3rd party
sanction lists using market-leading fault tolerant
merging & matching technology, facilitate the
reduction of suspected incidents of potential
fraud and money laundering - resulting in fewer
fault positives
• Transform, enrich, validate and standardize
your customer data into a single customer
record, utilising multiple internal and
external 3rd party sources for meeting
requirements associated to your customer on-
boarding process
• The creation of customer “Golden Records”
allows financial organisations to maintain,
manage and monitor their on-going “CDD”
(Customer Due Diligence) and “KYC” (Know
Your Customer) compliance requirements via
a transparent ‘Single Customer View’ (SCV).
Bringing information together in a single, central
location, you are better able to serve your
customers and enjoy the benefits of mitigating
risk and meeting compliance.
By centralising reliable and unique data in a
single location, you can:
1. Reduce risk and required capital reserves
2. Gain greater transparency and insight
3. Increase and maintain data reliability
4. Enhance operational efficiency
5. Improve customer satisfaction through
intuitive service delivery
6. Increase lasting value
About Neopost CIM
Recognized by Gartner for excellence in data
quality and customer MDM technology Neopost
CIM offers a flexible and proven approach in
giving organisations a complete understanding
of the importance clean and transparent data
plays in developing a compliant process for
customer due diligence (CDD) and knowing your
customer (KYC) . Neopost enables organisations
to further enhance the due diligence process by
developing bespoke and complimentary data
quality rules, to further enhance this process
with multiple options for data enrichment,
high-precision matching and master data
management
• By logically matching internal and external
data, ING Lease prevents losses of millions of
euros through potential fraud each month.
• Aegon has been compliant with legislation and
regulations for years thanks to our Customer Due
Diligence solution
• Over 25 years of experience in exact matching
of personal and business data