CDD is a process in which a financial institution gathers and assesses information about its customers to understand the nature of their activities and identify potential risks. The goal is to ensure that the customer is not engaged in illegal or suspicious activities, such as money laundering or fraud.

With Kang Fintech Solutions’ APIs, financial institutions can:

  • Automatically gather necessary customer information during account setup and transactions.

  • Assess risk profiles of customers to determine the level of scrutiny required.

  • Stay compliant with COBAC’s CDD guidelines to reduce risks.

Importance for Clients:

  • Ensures financial institutions can identify and mitigate high-risk clients.

  • Helps protect against financial crimes and liabilities.

  • Facilitates smoother compliance audits and regulatory reviews.