Managed KYC Service
Know who you are onboarding into your business.
The First Step to Know Your Customer
Every new customer represents an opportunity. Every customer relationship also introduces risk. Before trust is established, identity must be verified, and risk must be understood.
Every customer relationship begins with knowing who is on the other side. Know your customer (KYC) helps businesses onboard the right customers, manage financial crime risks and meet AML/CFT obligations.
At Citadel365, we believe KYC is an ongoing process that supports compliance and helps build customer relationships. Our Managed KYC Service allows your team to focus on developing business growth strategies while we manage the entire customer due diligence process from data collection, verification, risk assessment, monitoring, and recordkeeping.
We help financial institutions, DNFBPs, and VASPs meet AML/CFT obligations through a risk-based approach that speeds up onboarding and enhances the customer experience.
Every Compliance Check Matters.
Our managed KYC service helps you verify customer identity and ensure secure onboarding
Our Managed KYC Process
KYC is an ongoing process rather than a one-time check. Our methodology follows a structured process to help you carry out customer due diligence and meet compliance obligations.
1. Document Collection
Every customer profile is built on the quality of the information collected at the very beginning of the relationship. Our team gathers basic information and supporting documents required to establish customer identity and fulfil customer due diligence requirements, depending on whether the customer is an individual or a legal entity.
By collecting complete and accurate information from the outset, we help reduce delays, minimise follow-up requests and create a stronger foundation for every stage of the KYC process.
2. Identity Verification
After collecting the information, we perform fact checks. We verify identities by comparing them against official government or third-party databases, ensuring customer authenticity. Our support also includes biometric checks, video KYC, and self-KYC to enable faster onboarding.
3. Customer Risk Assessment
Collecting documents is only one part of KYC. The other side lies in confirming that the information provided is genuine and reliable. Every customer poses a different level of risk (low, medium, or high), depending on factors such as customer type, transactions, product/services, delivery channels, and geographies. We also screen customers against global watchlists, including PEP, sanctions and adverse media databases, to calculate and develop customers’ risk profiles. Customer risk assessment further defines the level of due diligence required, from simplified to enhanced.
4. Enhanced Due Diligence
Higher risk demands deeper understanding. When a customer, transaction, or business relationship presents high ML/TF risk, we conduct enhanced due diligence (EDD), asking for additional documents about customers and involved third parties. Here, we verify the source of funds and the source of wealth to establish effective controls for mitigating ML/TF risks associated with high-risk customers.
5. Ongoing Customer Monitoring
A customer verified today may present a very different risk profile tomorrow. Businesses expand into new markets, ownership structures change, sanctions lists are updated, and customer circumstances change over time. Our Managed KYC service includes periodic KYC review, customer information refreshers, sanctions and PEP rescreening, and customer risk reassessments to keep due diligence accurate throughout the customer lifecycle.
6. Recordkeeping
Good compliance is remembered because it is recorded. From customer information to transaction history, we maintain records of KYC checks to track changes in customer profiles and support regulatory investigations and reporting processes throughout the customer relationship. Every action is documented to create a clear audit trail that supports regulatory examination and future customer reassessments.
The Advantage of a Managed KYC Approach
Our managed KYC service goes beyond meeting regulatory requirements. At Citadel365, we help you improve operational efficiency, focus on core operations, mitigate risks, and strengthen business compliance.
Reduce Costs and Increase Efficiency
Why maintain the engine when managed KYC helps you remain compliant at lower costs? We help you eliminate overhead expenses and handle customer due diligence, recordkeeping, and periodic reviews that support your compliance needs.
More Time for Business Growth
We handle the compliance heavy lifting, so you can continue focusing on growing the business. Our managed KYC service handles day-to-day KYC responsibilities, allowing you to concentrate on customer relationships and develop growth strategies, while we keep your business compliant.
Compliance with Expert Support
Our team brings practical AML/CFT compliance experience to support your KYC obligations. We handle your due diligence process accurately, reducing manual effort and compliance risks, and helping you meet regulatory requirements through a strengthened compliance framework.
Stay Ahead of Risk
Every customer carries a different level of risk. Identifying risks at onboarding isn’t sufficient; you need to regularly assess and monitor customer activities to detect evolving risks and mitigate financial crime. We help you adopt a risk-based approach to assign an accurate risk rating to customers with their changing profiles and reduce your exposure to financial crime.
Accurate KYC Helps Businesses Grow and Meet Regulations
We help you reduce operational burden and manage customer due diligence through a risk-based approach.
Related Services
Our expertise goes beyond managed KYC service. Explore our other services:
Sanctions Compliance
Proliferation Financing Risk Assessment
Financial Crime Risk Assessment
Sanctions Risk Assessment
Payment Risk Assessment
External Compliance Officer
ML/TF Risk Assessment Data Collection Process
AML Consulting Services
AML/CFT Gap Assessment
AML AUP
Typology Assessment
Rule Optimisation & Threshold Tuning
AML Periodic Inspection
Counterfeit Currency Detection Training
FAQs on Managed KYC Service
Our managed KYC service involves handling your business’s customer identity verification, document checks, and ongoing due diligence, which differs from in-house KYC, which requires internal resources to manage compliance.
Our managed KYC service involves using automated solutions that reduce human errors & manual checks and improve efficiency & accuracy, which support AML compliance obligations under FATF recommendations.
Managed KYC service helps prevent AML risks such as synthetic identity fraud, failure to identify politically exposed persons or adverse media individuals, failure to identify ultimate beneficial owners and clients from high-risk jurisdictions.
Regulated entities such as DNFBPs, financial institutions, and VASPs that are mandated to comply with Anti-Money Laundering obligations need a managed KYC service for onboarding customers quickly, managing ML/TF risks, and reducing operational costs.
Our managed KYC service includes using advanced technology to screen sanctions and PEPs in real-time with configured thresholds that help reduce false positives in AML screening.