Design and Approval of New
Products and Services

The design and approval processes of new products in financial services companies can be burdensome due to cumbersome and inefficient internal processes.

B-Trust provides a flexible web-based workflow engine to streamline and standardize discussions and approval steps across departments.

Apps from our marketplace can support business users by automating the identification of potential risks, for example checking appropriate commission rates.

Pre-sales & Marketing

Conduct Risk is a top priority for Compliance Officers in ensuring consumer protection. Knowing the complexities involved, B-Trust’s flexible web-based workflow engine automates and creates cohesion over discussions and approval steps, even when multiple departments are involved. Apps from our Marketplace integrate to help identify aggressive and improper marketing language leveraging technologies such as machine learning, for example sentiment and keyword analytics.

Customer Onboarding

Significantly simplify your onboarding processes for individual customers from end to end through automation, with supply chain integrations such as facial recognition, ID verification, OCR,

customer risk classification and other customer due diligence (CDD) checks as part of Know Your Customer (KYC). These include FATCA and an adverse media checks process to comply with relevant regulations, reduce the risks of fraud, and optimize the customer journey.

Strengthening the onboarding of corporate customers has long since been the focus of transnational bodies, such as FATF and the European Union, but also individual authorities such as US-OFAC. Behind the scenes, B-Trust will verify the corporate’s identity and obtain its corporate structure, and automatically run compliance checks from risk classification, adverse media, sanctions, PEPs, and ICIJ to more complex regulations such as OFAC’s 50% rule. Your organization can define its own rulesets, providing best-in-class flexibility and control.

Ongoing Business Relationship

After onboarding, B-Trust regularly monitors and tracks data for any changes or updates, regularly re-running all defined checks to ensure continuous customer due-diligence. In case of changes, workflows are triggered to alert relevant stakeholders or to update data sets.

The identity management function continuously checks the verification and validity of all identities and will alert if triggered by potential issues such as fraud.

Payments and other Services

As part of the onboarding process, B-Trust automatically identifies corporate structures such as UBOs and completes thorough sanctions screening and other checks on relevant parties. This covers even complex regulations such as OFAC’s 50% rule.

As all checks run in real-time and the process is touchless, this heavily reduces friction before payments can be made.

Termination and Post-contract Phase

B-Trust is fully GDPR compliant by design. Our platform includes a full audit
trail that can be used for regulatory reporting in case of an audit,
and for evidence in incident response procedures.