How Owlin Helps Payment Service Providers Monitor Merchants
Payment Service Providers (PSPs) are regulated entities; therefore, they must comply with the rules set out by regulators. This means they need to conduct comprehensive due diligence to mitigate the risk of financial fraud and must (periodically) review or continuously monitor merchants after the initial onboarding process.
In this blog, we share how our Owlin for KYC offering is the perfect tool for Payment Service providers to monitor their merchant portfolio to comply with regulators while mitigating the risk they run into by underwriting these merchants.
Want to know more about Owlin for KYC?
Want to talk to one of our KYC experts about why our Owlin for KYC offering perfectly matches the needs of Payment Service Providers? Schedule a demo via the button below. We would love to get to know you!
Owlin for KYC allows you to monitor merchants based on personalized queries
Manual checks against individual sanctions & PEP lists or using Google for adverse media is time-consuming and can be prone to errors. Also, manually checking leaves PSPs without an audit trail, making it difficult to evidence due diligence actions to a regulator. With Owlin for KYC, merchants are continuously monitored for risk signals based on personalized queries you and your team created in the onboarding process. Moreover, you will receive scheduled and instant risk alerts based on the complete Owlin database, including:
- Adverse Media Data
- Chamber of Commerce Data
- Sanctions Data
- Political Exposed Persons (PEP) Data
- State-Owned Enterprises (SOE) Data
- Black- and Warning lists
- PDF documents
- Alternative data (e.g. Consumer Reviews)
Owlin for KYC helps you stay on top of regulations
Do you want to be the first to know about new AML/ KYC Regulations, Credit Risk Regulations, regulatory news and actions? If so, how would you like us to keep you updated? You choose!
Newsletter
With the Owlin Regulations Monitor, you will be able to monitor regulations, and you and your team will be alerted to any new regulations, regulation changes, and actions from your regulators in context with your organization. Check out our Regulation Monitoring for Payment Service Providers blog for more information.
Dashboard Visualizations
Based on news and PDFs, visualize the trends and events by following a live feed of more than 3 million news sources in 16 languages and one year of historical data.
Alerting
Configure and receive scheduled and instant alerts when a regulator is being discussed in the news in connection with a topic of your interest.
Owlin for KYC simplifies your offboarding process
Owlin for KYC simplifies merchant case management with intuitive features. In 1 click, you will be able to:
- Close and remove a case from onboarding and monitoring with
- Archive all case information (including any internal identifiers linked to the case)
- Export your case’s content and respective comments into a CSV file, or integrate through API to any internal tools.
Are you ready to save time while minimizing risk?
Feel free to schedule a meeting with one of our sales representatives for more information about our offering or prices. We can’t wait to meet you and would love to tell you more about our KYC offering!
Further reading
Owlin for KYC offers Payment Service Providers one solution for onboarding, monitoring, and offboarding. For more information, visit: