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UiPath KYC (Ultimate Beneficial Owner) Accelerator
by Internal Labs
0
Solution
<100
Summary
Summary
Accelerator extracts ultimate beneficial owners from SEC Def 14A (Proxy documents), runs these list of owners through sanctions screening and politically exposed person (PEP) checks.
Overview
Overview
Beneficial Ownership Extraction: This process is an integral part of the Anti-Money Laundering or similar regulatory Risk Assessment and all Financial Services firms must comply with this in order to maintain licenses. During customer on-boarding process for a client, the KYC analysts must collect and update client profile including beneficial ownership information to correctly assess client risk. The analysts must ensure that all necessary information required to complete the KYC record is available and accurate. After on-boarding a client, the KYC Profile will be monitored for substantive changes to the original information captured. And finally, they must ensure that that the risk assessment of the customer has not materially changed.
In most banks, ascertaining Beneficial Ownership is time consuming and prone to errors largely due to unstructured nature of the documents that serve as single source of truth. Some of these documents include Proxy Statements, Form 13F and 13D filed with SEC. Top 20 US banks spend close to USD 50 MM per annum on KYC alone and UBO is a significant overhead in this lifecycle.
UiPath KYC (Ultimate Beneficial Ownership) Accelerator extracts ultimate beneficial owners from SEC Def 14A (Proxy documents), runs these list of owners through sanctions screening and politically exposed person (PEP) checks.
Features
Features
Pre trained extraction models based on real world public data set such as proxy statements
Additional Information
Additional Information
Dependencies
Evolution.AI
Technical
Updated
February 19, 2020Works with
Studio: 18.4 - 22.10
Application
Support
UiPath Community Support
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