APAC CIO Outlook’s RegTech edition focuses on the top regulatory technology solution providers and aims to identify the key players in this landscape for showcasing their expertise in solving impediments and overcoming market complexities.
Argos KYC was nominated as one of the top 10 RegTech solution providers of the year. Wonkyu Lee, CEO of Argos KYC, gave an interview to “APAC CIO Outlook” about efficient risk assessment using an anti-money laundering and customer due diligence solution. In the interview, CEO Wonkyu Lee introduces seamless automation in customer onboarding, KYC, and money laundering risk assessment.
KYC (Know Your Customer)
KYC stands for Know Your Customer. KYC refers to obtaining and verifying information about the identity of customers before doing business with them. Before a financial transaction takes place, you check and ensure your customer is really who he claims to be. For example, when you open a bank account, you are going through KYC process by submitting your ID document and basic personal information to the bank.
AML (Anti-Money Laundering)
AML refers to anti-money laundering. It is to prevent disguising illegal funds as legitimate source of money. Argos AML Screening service analyzes the money laundering risks of customers by with its vast AML database including the list of politically exposed persons, sanction lists and watch lists published by international organizations and governmental bodies.
Read more about the interview: https://www.apacciooutlook.com/magazines/September2020/RegTech/?digitalmagazine#page=14
“Create A World Where Good People Transact Safely and Keep The Bad People Out.”