Signicat – RiskFlow Orchestration
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Signicat - RiskFlow Orchestration
Additional Info
| Company | Signicat |
| Website | https://www.signicat.com/ |
| Company size (employees) | 100 to 499 |
| Headquarters Region | Europe |
Overview
Signicat’s Riskflow Orchestration product is a comprehensive compliance solution that covers a wide range of use cases to allow regulated entities to manage effectively KYC/AML and fraud detection capabilities via a single API.
This solution is designed for customer onboarding, identity verification, and fraud detection, primarily targeted at regulated industries like the financial sector or iGaming operators. It offers a seamless onboarding process that ensures full compliance while efficiently detecting any fraudulent activities or inconsistencies. The solution addresses the evolving market demands, including the need for convenience, speed, and security in user onboarding, remote identification requirements driven by factors like COVID-19, and the increasing regulatory landscape.
Signicat’s RiskFlow Orchestration platform integrates with clients’ existing ecosystems, providing modular KYC, AML, and risk management capabilities. It enables the design of customized risk workflows and access to a wide range of identity and risk data sources. The solution enhances data quality, provides valuable insights for informed decision-making during onboarding and identity verification processes, and significantly reduces customer onboarding time, resulting in minimized drop-off rates, all while preventing and delivering a user-friendly digital experience.
Key Capabilities / Features
1. It empowers the company to detect fraudulent applications in real-time using an API, with a remarkably fast response time of 2-5 seconds. This is translated into operational efficiency and a better user experience.
2. Our customers’ Risk Teams can efficiently review applications and spot patterns in fraudulent activities, allowing companies to stay ahead of fraudsters. This is translated into financial crime risk mitigation.
3. Signicat manages all contracts and contacts with 3rd Party Vendors, ensuring streamlined and centralized vendor management.
4. The implementation of RiskFlow Orchestration requires minimal technical involvement from the company’s side, making it easy to integrate into existing systems.
5. The system can identify duplicate applications and detect associations between different client applications, enhancing fraud detection accuracy.
6. By leveraging a single API connection, RiskFlow Orchestration provides access to over 170 top-notch risk data providers, offering comprehensive and reliable risk assessment capabilities.
How we are different
1. Prevention is better than cure
Signicat's RiskFlow Orchestration solution is a modular KYC, AML, and risk management platform designed to integrate with clients' existing ecosystems. It creates risk workflows tailored to specific needs or use cases and provides access to a wide range of identity and risk data sources to truly know your customers. In other words: it is a pre-coded orchestration platform for managing fraud risk and AML compliance. The solution enhances data quality and provides companies with insights to make informed onboarding and verification decisions.
2. Beyond fraud detection and AML compliance
One of the main features of RiskFlow Orchestration is its ability to embed a company’s fraud, AML, and risk policies into highly customizable workflows.
Its Orchestration caters to a multitude of use cases and orchestrations. The solution empowers companies to future-proof their compliance needs while benefiting from the expertise of a dedicated team of subject matter experts.
3. Go live easily
At the technology level, RiskFlow Orchestration is characterised by its simplicity: it’s a plug-and-play solution via a single API.
Besides the technical orchestration, most services can be accessed via a single contract, or in the event our customer has an existing vendor contract in place, the system can be a conduit to both existing and new providers. If a vendor is not in the network that our customer wishes to utilize within a workflow, we can easily add any service to the customer’s configuration needs.
A company can modify the solution at any point, leveraging the no-code benefits of the platform. Adding a new vendor which might be crucial to support onboarding in a new market can be delivered seamlessly, reducing time to deploy, time to market and time to revenue for the company.
