Solution for Insurance
Complying with KYC & AML requirements in Hong Kong is essential for insurance industry to prevents money laundering, protects market integrity, ensures regulatory adherence, maintains customer trust, reduces financial crime risks, and sustains Hong Kong’s global financial reputation.
Our Case
Digital transformation with the insurance industry
Pain Points for Insurance
Insurance brokers operate within a heavily regulated industry, and AML/KYC requirements are mandated by laws and regulations. By conducting thorough due diligence on their customers, insurance brokers can ensure compliance with these regulatory obligations.
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Yet, we understand that AML/KYC procedures involve collecting and verifying a significant amount of customer information, from transaction records to sanction files, which can be time-consuming and resource-intensive for insurance. This can result in delays in onboarding new clients or processing policy applications.
Ace the Client Onboarding Process
iFinGate provides the one-stop integrated service for their client onboarding. Our Identity Verification (IDV) system to help verify customer identity, and AML name screening to check client’s background, and Customer Due Diligence to further investigation on client’s status.
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Data Security and Privacy Concerns
Safeguarding customer data is essential to protect sensitive information, maintain client trust, adhere to regulatory requirements, prevent data breaches, and mitigate the risk of financial and reputation damages.
Industry Best Practices
Compliance frameworks often incorporate industry best practices and standards. By adhering to these practices, insurance brokers can improve their operational efficiency, optimise processes, and ensure consistency in service delivery.
Tailored
service for
Insurance
Free Demo
Contact us to schedule a real-time and interactive demonstration of our in-built compliance automation system and other products today. Click here to reserve your demo session, or contact us at (852) 3797-8938 / cs@ifingate.com