HFLabs KYC

2022: Creating KYC

IT company HFLabs on January 12, 2022 announced the creation of a product for checking bank customers against KYC black and white lists.

This allows banks and other financial institutions to identify people and organizations from blacklists in time and avoid fines from regulators.

HFLabs KYC is focused primarily on financial sector companies: banks, insurance, microfinance organizations. With it, they will be able to automatically check customers and counterparties on various registries before the financial transaction is posted. The speed of regular verification for the entire client base (even if it is 50 million people) is about three hours. Each individual request is processed in less than a second.

This system works with all lists of Rosfinmonitoring and performs the verification required by 115-FZ. HFLabs KYC finds people included in the sanctions lists of the United States, the European Union, the UN, Switzerland and the UK. In addition, you can find out whether a person is bankrupt and has not presented an invalid passport. The decision supports verification of the list of strategic organizations, the list of the Central Bank on the basis of regulation No. 764-P and on any internal lists adopted in the organization .

Our focus is quality work with personal data. HFLabs KYC understands typos, synonyms, takes into account the similarity of data and even finds relatives. This minimizes the number of false positives and the time to manually check a customer or legal entity. When analyzing the entire array of the customer base, we track changes that are important for the business - for example, changing the legal address or director of the company, as well as suspicious data - mass registration addresses and repeated telephone numbers, "said Konstantin Stepanov, executive director of IT company HFLabs.

HFLabs KYC maintains the audit history.