Open Banking and Open Finance • KYP

Protect Your Business.
Know your Partner.

We understand that an increasingly Open World means increased risk for Open Banking and Open Finance providers. Regulation is also moving at speed, with different markets at different stages – meaning you need a platform that informs just as quickly.

Under PDS2 regulation, Account Servicing Payment Service Providers (ASPSPs) can only refuse a Third Party Provider (TPP) access request if it has been classified as a potential fraud risk. Given that ASPSPs (banks) are generally not contracted to TPPs, this creates a risk gap. It’s vital to understand the real-time financial crime and reputational risks posed by TPPs when granted API access enabling you to build and safe TPP relationships.

How KYP helps Open Banking and Open Finance.

Strategy and intelligence

  • Link graphing connecting known phoenix from the flames businesses
  • Build personalised charts and other visualisations
  • Perform mandatory scenario modelling for business continuity planning

Alerts

  • Corporate and director adverse media checks
  • Insolvency warnings
  • Indicators of DarkWeb compromise and data breach
  • Indicators of Trusted Organisation as a ‘Point of Compromise’
  • Understand if Trusted Organisations are adhering to their Terms of Use
Open Banking and Open Finance • KYP
  • Asynchronous 24/7 alerting system

  • Connected to the User Investigation Interface and can be linked to multiple channels such as SMS, email and telephones.

  • Risk score on every API response to support logging and record an audit trail for regulation compliance.

  • Hourly Risk Digest to expose the underlying data over API.

Open Banking and Open Finance • KYP
  • Portfolio volume alerts
    Indicates significant changes in the portfolio since last login

  • Risk analysis reporting
    Overview and breakdown of high and medium risk alerts to enable focus on immediate risks to business

  • Case analysis and reporting
    Dashboard of case status for management reporting and operational workload

  • Operational dashboard
    Overview of team activity and cases completed

  • Alerts and notifications dashboard
    Overview of open cases for management interception and reassignment when required

See our solution in action.

Schedule a demo and find out how our solution can help your business.