Owlin launches end-to-end KYC solution for payment service providers

By Gloria Methri

January 31, 2023

Buyer Onboarding
KYC
Monitoring and Screening

AI platform Owlin has introduced the launch of Owlin for KYC, providing Payment Service Providers (PSPs) a single solution for onboarding, monitoring, and offboarding retailers.

With this new solution, the corporate goals to assist PSPs in assembly regulatory necessities and coping with the insecurities that come from present financial developments.

Owlin for KYC permits PSPs to display their retailers in opposition to a number of information sources, together with Antagonistic Media, Sanctions, Politically Uncovered Individuals, and Buyer Opinions.

The newest providing is predicted to boost KYC processes, significantly when PSPs manually display retailers in opposition to totally different information sources to test for danger inside their portfolio.

The KYC solution helps seamless transition from the onboarding section to steady monitoring, with all information related to the onboarding and monitoring steps being retained and out there as an end-to-end audit path.

Sarah Lane, Chief Business Officer at Owlin, stated, “From conversations with our existing PSP clients and prospect base, we learned their challenges with meeting new regulatory requirements. In the past couple of months, we’ve immersed ourselves in the existing onboarding and compliance workflows to design our PSP offering from the ground up to meet the requirements for the future.”

“As such, we are incredibly excited to announce the launch of our end-to-end KYC solution for PSPs, which is in direct response to our customers’ desire to combine Owlin’s world-class adverse media monitoring with onboarding and auditability support. We can now offer our clients a single solution to meet their operational onboarding and monitoring needs, supported by a robust framework to satisfy their regulatory requirements.”

Owlin is an AI-driven platform that helps corporations construction information and combine danger and market insights that will have an effect on a enterprise into each day workflows. It applies Pure Language Processing to supply worthwhile insights hidden within the information and supply crucial insights proactively, repeatedly, and in real-time.