June 20, 2018

For most regulated organizations, boarding high risk customers is a challenging event. The highly detailed knowledge and experience required is not always available within the organization while the impact of noncompliance can be severe. As a result, many organizations opt to forgo business opportunities with customers that would require enhanced due diligence.

Through our background in compliance, we experienced this first hand and looked around for available tooling. During this search, we learned there are dozens of solutions available but most of these focus on the entire KYC process, rather than EDD specifically.

To help organizations to be more effective with EDD, KYC Quest was founded: A qualitative questionnaire building platform extended with a risk module and approval flow.

KYC Quest:

  • offers structured guidance through the EDD process;
  • allows you to implement existing EDD questionnaires or use one of ours;
  • saves time with automated steps, check box questions and precisely timed reminders of laws and guidance;
  • helps you flag identified risks, embed triggers and force elaboration on findings;
  • can easily be tailored to your organization by adding internal guidelines and practical advice;
  • monitors efficiency and quality assurance through statistics;
  • is compatible with your existing infrastructure;
  • continuously updates through Ruler, a rules and regulations database powered by Charco & Dique.

Naturally, having the environment and content to properly execute EDD is only half the job. In case of high risk every assessment is unique and requires a holistic approach by a skilled and trained professional. Therefor, KYC Quest partnered up with I-KYC, offering AML training programs combined with the use of our platform. With their wide network and vast experience they have greatly helped us delivering a product that is fit for purpose.

We would love to hear your thoughts on KYC Quest and can be contacted directly at niek@kycquest.eu or through one of the I-KYC representatives.

Niek Röselaers

Co-Founder KYC Quest