Navigating PSD3: Owlin’s Solutions for KYC & Compliance
In our blog ‘How will PSD3 Impact KYC Strategies’, we discussed that with PSD3 on the horizon, it is crucial for PSPs to closely monitor the evolving regulatory landscape. Anticipated changes in KYC requirements, harmonization efforts, and the potential merger of PSD2 with other directives will undoubtedly shape the future of PSPs’ operations and compliance. In this blog, we further dive into how PSPs can navigate these regulatory challenges with Owlin’s solutions for KYC & Compliance
Navigating Regulatory Challenges and Seizing Opportunities: The Role of PSPs in Effective Merchant Monitoring and Compliance
By staying informed and proactive, PSPs can position themselves to navigate the regulatory challenges and seize the opportunities presented by the forthcoming PSD3 legislation. It remains incumbent upon PSPs to uphold their obligation to monitor their merchants effectively since they are responsible for evaluating, identifying and mitigating potential risks associated with payments and account accessibility. This entails vigilant transaction and merchant risk monitoring to ensure strict adherence to pertinent regulations and to ensure the payment service provider is protected against unwarranted vulnerabilities.
Find Out How Owlin Helps PSPs Comply with KYC Regulations and Stay on Top of Upcoming Regulation
Owlin offers two robust solutions to address the evolving regulatory landscape and streamline compliance processes: the Owlin Regulation Monitor and Owlin for KYC Solution.
Stay Up to Date on New Regulations with Owlin’s Regulation Monitor
Owlin’s Regulation Monitor for PSPs is designed to assist compliance teams in staying current on new regulations, ensuring they are the first to know about new requirements, changes in existing regulations and other regulatory actions.
Comprehensive Regulatory Monitoring
By leveraging Owlin’s proprietary news and data pipeline, Owlin’s Regulation Monitor monitors over 3 million sources translated from 16 languages. This vast range of data sources can be further enriched with premium content or integrated with PSPs’ internal data, providing a comprehensive and centralized source of essential intelligence.
Owlin utilizes advanced AI technologies, specifically Natural Language Processing (NLP), to extract valuable insights from the collected data. This allows PSPs to stay informed and ahead of regulatory changes and updates specifically relevant to their operations.
Tailored Information Delivery
Every PSP has unique preferences for receiving regulatory news and updates. With Owlin’s Regulation Monitor, PSPs can choose how they want to be informed. Whether through an intuitive dashboard, personalized newsletters, email alerts or seamless API integration, Owlin ensures that updates are seamlessly integrated into existing workflows.
Seamless KYC Management: Unlocking Efficiency and Focus with Owlin for KYC
Our Owlin for KYC Solutions presents financial organizations with a comprehensive platform streamlining the entire onboarding, monitoring, and offboarding process lifecycle.
With Owlin’s advanced platform, analysts can conduct thorough checks on third parties, leveraging personalized queries across the extensive Owlin database. This powerful resource encompasses a wide range of essential data, including adverse media data, chamber of commerce data, sanctions data, politically exposed person data, state-owned enterprise data, black and warning lists, consumer reviews, PDF documents and other sources of alternative data.
After onboarding, the Owlin platform continuously monitors in real time for any relevant news across the monitored portfolio of merchants, intelligently prioritizing and highlighting key topics and risks that require immediate attention. This enables KYC specialists to focus on critical signals that genuinely matter.
Lastly, Owlin for KYC simplifies offboarding by providing a seamless workflow and retaining all relevant case information. This includes an end-to-end audit trail, ensuring compliance, and facilitating future reference.
Find Out What Owlin Can Do for You!
By leveraging Owlin’s innovative solutions, PSPs can achieve efficient compliance, uphold KYC regulations, and adapt seamlessly to the evolving regulatory landscape. Contact us or schedule a free demo to learn what Owlin can do for you!