How Owlin Helps Payment Service Providers Monitor Merchants
Ensuring PSP compliance and risk mitigation
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 Owlin helps PSPs stay compliant with Know Your Customer (KYC) regulations. By monitoring their merchant portfolios, PSPs can meet regulatory requirements while minimizing the risks associated with underwriting these merchants.
Owlin 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, merchants are continuously monitored for risk signals based on personalized queries you and your team create during onboarding. 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 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!
With our newsletter, 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, making you stay ahead of the game.
We also offer a free monthly regulatory newsletter for PSPs that keep you updated about the new regulations in the industry.
Dashboard visualizations
Based on news and PDFs, we visualize the trends and events by following a live feed of more than 3 million news sources in multiple languages and five years 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 simplifies your offboarding process
Owlin simplifies merchant case management with intuitive features. In 1 click, you will be able to:
- Close and remove a case from onboarding and monitoring
- 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 solution!
