Automating AML and KYC compliance, onboarding, and monitoring

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A scalable solution for global compliance

Danish Crown is the world’s largest pork exporter. With 89 processing facilities and offices in 38 countries, they serve a truly global network of customers. Many of these customers operate in markets where data – particularly Ultimate Beneficial Ownership (UBO) data – is hard to source.

With customers all over the world, compliance is a challenge, and because we are owned by a collective of over 5,000 Danish Farmers, compliance is something that is very important to us.
Helle Nielsen, Credit Management ​& Compliance, Danish Crown
The complexity of cross-border compliance increases with each new regulation and each new market you enter. With a global customer base, Danish Crown could see that their manual compliance processes couldn’t scale. So, they looked into automated onboarding and monitoring AML, and perpetual Know Your Customer (pKYC) compliance solutions.

Automated onboarding workflows

Because Danish Crown already used Dun & Bradstreet D-U-N-S® Numbers to verify customer identities and enrich their records, they decided to test D&B Risk Analytics Compliance Intelligence (RACI).

With RACI's policy-Led Workflows it was possible for Danish Crown to define risk parameters according to their risk policy and automate perpetual KYC monitoring during onboarding in near real-time.​

Because RACI is driven by ‘living’ data that is updated each day, it enables alerts that are triggered if a third party’s compliance status changes. ​And just as importantly, if a regulation changes, risk parameters can be reconfigured to identify any third parties that no longer comply.

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Simplifying compliance

By adopting RACI as their compliance management solution, Danish Crown is now able to fulfil compliance expectations the banks are placing in half the time it took previously.

Danish Crown has also been able to reduce the false positives needing attention by approximately 80%. ​Just as importantly, they now have a deeper understanding of who they are really doing business with and can better safeguard the reputation of themselves and their members. ​

> Learn more about Perpetual Know Your Customer (pKYC)

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