Fordel Studios
The Problem
A financial institution onboarding 200+ accounts monthly spends 2-4 hours per account on KYC: collecting ID documents, verifying against databases, screening sanctions lists (OFAC, EU, UN), analyzing beneficial ownership for complex entities, and documenting risk assessment. Enhanced due diligence adds 4-8 hours for high-risk accounts.
54% of financial services firms had deployed AI by January 2025 (S&P Global). ComplyAdvantage provides real-time sanctions screening with auto-adjusting thresholds. McKinsey describes how agentic AI transforms KYC/AML: handling data gathering while officers focus on judgment.
Non-compliance cost: FinCEN enforcement, reputational damage, loss of correspondent banking. Over-compliance cost: excessive false positives consuming analyst time and delaying business.
The Solution
The agent handles KYC from onboarding through ongoing monitoring. At opening: collects and verifies identity documents via OCR and authentication. Screens against OFAC SDN, EU Consolidated, UN Security Council, PEP databases, and adverse media. For entities, maps beneficial ownership from corporate registries.
Risk scoring considers customer type, geography, products, source of funds, and screening results. Transparent factor explanations for examiner review. High-risk accounts flagged for enhanced due diligence with specific areas identified.
Continuous monitoring: new sanctions checked against your base within hours. Transaction monitoring uses behavioral models detecting structuring, layering, trade-based laundering, and funnel accounts. Alerts with full context and SAR-filing recommendations.
How It's Built
Productized service. Senior engineer configures sanctions feeds, registry APIs, and core banking integration. Risk models per your customer base. BSA/AML alignment reviewed. Setup: 4-5 weeks.