Datanamix | Know Your Customer

KYC Batch Automation API

The KYC Batch Automation API is a powerful tool designed to streamline and automate businesses' KYC process, ensuring compliance with FICA regulations. KYC is a crucial step in customer onboarding and compliance procedures, requiring firms to verify their customers' identities to prevent fraud, money laundering, and other financial crimes. Traditionally, KYC processes involve manual data collection, verification, and documentation, which can be time-consuming, resource-intensive, and prone to errors. The KYC Batch Automation API simplifies this process by allowing businesses to automate these tasks through programmable interfaces.

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How the KYC Batch Automation API works

Data Submission & Collection: Businesses can submit batches of customer data to the API, including personal information such as names, addresses, and identification information.

Verification: The API processes the submitted data and verifies it against various golden source databases, such as government records, credit bureaus, and watchlists, to confirm the customers' Identities, addresses, contact data, and source of funds and ensure FICA compliance.

Compliance Checks: The API conducts compliance checks to ensure that customers meet regulatory requirements, such as anti-money laundering (AML) and counter-terrorism financing (CTF) regulations, including adherence to FICA guidelines. Customer records are comprehensively screened against D&F -PEP, D&F -PIP, Sanctions, Enforcements & Adverse media lists globally.

Automatic AML Matching: The infinite brand caters for automatic matching of customers that are screened through the global AML lists, the API utilises a highly configured scorecard to automatically assign customer records to a matched, partial match or false positive/no result grouping.

Scoring and Risk Assessment: Our API can generate a risk score for each screened customer based on verified data and compliance checks, provided that businesses share their risk rules or RMCP with us.

Reporting and Monitoring: The API provides real-time updates and reports on the status of KYC requests, allowing businesses to monitor the verification process's progress and take necessary actions to maintain FICA compliance.

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Key benefits of the KYC Batch Automation API


Efficiency


Automating manual processes allows businesses to reduce the time and steps required for KYC compliance, enabling faster customer onboarding and decision-making while ensuring adherence to FICA regulations.

Accuracy


The API employs advanced algorithms and data matching techniques to ensure the accuracy and reliability of customer data verification, minimizing errors and false positives in FICA-related processes.

Cost Savings


Automation helps businesses lower operational costs associated with KYC compliance, such as labour and administrative expenses, while maintaining FICA compliance standards.

Regulatory Compliance


The API helps businesses meet regulatory requirements and standards, reducing non-compliance risk and potential penalties, including FICA regulations.

KYC Infinite Brand

KYC Infinite is a groundbreaking software that aims to combine customer experience and assist businesses in achieving FICA compliance seamlessly.
The Infinite brand comprises three modules:

  • Infinite Live
  • Infinite Batch
  • Infinite Monitor

These modules are designed to work harmoniously to ensure complete FICA compliance across any organisation. They are industry-first, offering comprehensive compliance treatments that align flawlessly with FIC Legislation in customer onboarding and customer management spaces.

KYC Infinite is API-driven and boasts a single API per module that seamlessly integrates data, AI, decision-making, customer experience, and technology to transform FICA compliance from a business challenge to a business strength.

KYC Infinite is your one-stop solution, providing all the essential golden source data assets for due diligence and a wide range of alternate data sources for insights. It's particularly effective in addressing the needs of new-to-credit or thin-file consumers.

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Identity validation

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Address & Contact Verification

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Source of Funds

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AML screening – Automated decision matching

KYC Infinite Value


Infinite Live


Strategy Alignment
Complete Due Diligence
Customer Experience
Accurate Risk Rating
Premium AML Matching
Real-Time
Market First



No reputational damage


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Infinite Batch


Customer Centric KYC
Group Leveraged Insights
Shift in Effort Allocation
Seamless Screening
Single API
Secure



Reduced cost


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Infinite Monitoring


Perpetual KYC
Early Risk Detection
Opportunity Detection
Scaling Insights
Managing Risk



Complete FICA compliance


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KYC Infinite – Live

Live provides real-time information and decisioning, catering to the dynamic needs of customers during the live (real-time) account opening process.

Live (real-time) inquiries on all data assets
AI & decisioning for KYC
Datanamix ensures that customers receive instant, accurate information for effective decision-making during account origination
Streamlining KYC processes for a seamless compliance experience

KYC Infinite - Batch

Batch offers complete automation of the file batch KYC process, with a focus on the golden source data processing, decisioning, and reporting.

This innovative solution ensures compliance with FICA and provides a secure, robust, and seamless platform for our customers.

Addresses, source data, & contact
DHA – Identity information
Geo coded addresses
Employment, Occupation & AI led Source of funds
AML conclusive matching
Reporting
AML - F/DPEP, F/DPIP, Sanctions & adverse media screening

KYC Infinite - Monitoring

Our solution-driven automation can host and maintain millions of records in a private petitioned cloud. We have provisioned delta values to be returned via API to ensure our clients can integrate into any platform or core system within their environment.

Interactive front-end dashboards are also available to ensure clients receive detailed reporting and Insights.

Our monitoring solution takes the hassle out of audits and compliance reviews, allowing clients to focus on leveraging insights for strategic business decisions.

Regularly updated, monitored, and maintained customer database
Monitoring solution for natural persons & juristic entities
Data monitoring software processing, updating, and returning deltas on any accessible data asset or variable  
Automation hosting millions of records in a private cloud
Delta values returned via API for seamless integration
Interactive front-end dashboards provide detailed reporting and insights for a comprehensive understanding of your customer base.

More leaders using Datanamix


Yoco
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Capitec Bank
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NedBank
Standard Bank
Luno
Bidvest Bank
Ozow
Purple Group
CCD Couriers
Momentum
Altron
Altron
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Please contact us for more information on our range of services