Perpetual Client Risk Assessment (p)CRA is Napier’s new advanced financial crime compliance solution that helps financial institutions continuously and dynamically assess customer risk across the full client lifecycle.
With (p)CRA, the complex undertaking of defining and reviewing multiple variables that affect a customer’s risk level becomes simple and automated. Accessible as a module within Napier Continuum, (p)CRA enables the most sophisticated, automated, ongoing review of the countless factors that could potentially change the risk that a customer poses.
The easy-to-configure, intuitive UI allows organisations to define and test complex CRA rules across multiple geographies, clients, or business units to drive consistent and ongoing risk assessments.
(p)CRA enables an ‘always on’ risk assessment, ingesting real time information from any risk event such as screening, monitoring, KYC or fraud, providing a full 360-degree snapshot of the client and their risk.
Where activity, transactions or other risk events trigger alerts, (p)CRA enables the automatic application of screening and monitoring rules as defined by the organisation’s risk policies in response.
It goes one step further too. Through intelligent dynamic client segmentation (p)CRA can discount risks and automatically resolve alerts, freeing up valuable time for the analyst.
Enhance any existing system
(p)CRA can ingest any risk event within an organisation, including events identified in onboarding, AML, fraud, and CRM systems. Designed for teams that need to manage a combination of new, legacy, and third-party applications, (p)CRA sits as a frictionless augmentation layer on top and can be configured to set workflows in motion across multiple systems and process boundaries.
With full STP and auditability it is now easy to incorporate and improve compliance with regulatory requirements.
Enterprise wide CRA
The flexibility of the solution allows organisations to design and load numerous risk score cards to assess risk across multiple areas such as geographies, business functions, and client types.
Risk levels generated by (p)CRA are unique to an organisation’s risk appetite, customers, products, and geographies served, and how these are labelled will vary from organisation to organisation.
Define, build and test risk events
(p)CRA has an integrated no-code environment that allows users to define and build ‘risk events’ from any related financial crime monitoring activity such as screening, transaction monitoring, KYC or fraud.
By building these risk parameters in line with organisational risk policies and regulations, and across every permutation of risk event, organisations enable real-time monitoring of the client to gain a holistic view of client behaviour.
Before going live with new risk parameters, users can test and tune these in the integrated sandbox against a copy of production data to derive optimal risk assessment and alerting thresholds.
High levels of automation
Napier’s intelligent approach facilitates automatic resolution of alerts by comparing the alert against all risk factors and events across the entire client profile and that of peers to discount the risk.
This reduces volumes of alerts to be manually investigated – improving productivity and boosting efficiency.
Remove time-intensive manual tasks by calibrating (p)CRA to automatically apply screening and monitoring rules for further investigation as risk thresholds are met.
(p)CRA delivers a more complete dynamic understanding of risk that enables comprehensive pKYC. Often the definition of pKYC can be too narrow – looking only at those events that occur during onboarding or as part of updating KYC information.
By assessing more factors than KYC data only, (p)CRA provides a complete, real-time risk score based on client behaviour across the full lifecycle.
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