Global Radar

Adverse media screening software for financial services has a lot of advantages for financial organizations. Generally, Adverse Media impacts the level of threat that contributes to a consumer submitting a Suspicious Activity Report (SAR). The best adverse media screening solutions are equipped with updated tools to provide help while delivering high-precision data. Adverse Media for high-risk consumers aids in the implementation of a comprehensive risk control plan. What Are the Benefits of Adverse Media Screening ? Adverse Media Screening is a tool that helps you to look at bad news and negative press about an individual or business. Companies should recognize and defend themselves from threats using adverse media analysis, an essential part of KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures. Generally, adverse media screening software for financial services can help financial institutions handle private information and facilitate the retrieval of the ID da

  Insurance companies that issue or underwrite covered products that may pose a higher risk of money laundering must comply with Bank Secrecy Act/ anti-money laundering (BSA/AML) program requirements. A covered product includes: An annuity contract other than a group annuity contract A permanent life insurance policy other than a group life insurance policy Any other insurance product with cash value or investment features Insurance regulations only apply to insurance companies, excluding agents and brokers from the requirements. However, insurance companies are held responsible for compliance with their program, which includes the activities of any agents and brokers. Insurance companies should therefore integrate their agents and brokers into their AML program. Features of a BSA/AML program Insurance companies must develop a written, risk-based BSA/AML program addressing the covered insurance products. At a minimum, the program must consist of the following features: A

  If your case is such that you are bringing a new vendor or changing your entire third-party ecosystem onto a new platform, Globalradar's vendor onboarding management solutions can help you manage your risks, gain efficiencies, reduce costs, adhere to contractual obligations, establish and monitor renewal procedures and ensure contractual obligation are met. Vendor onboarding is crucial as your business seeks information about potential vendors and suppliers. You need to evaluate the third parties’ capabilities as well as their risk levels before taking them on as your own. The vendor onboarding process builds the foundation of lasting business relationships with third parties. This is where the best third-party vendor risk management software comes in. This is the premium service Globalradar would offer you which you would not find just anywhere. The vendor onboarding management process can be a lengthy one, consisting of complex tasks that span across your entire enterprise

Client onboarding is the first opportunity for the banks or any financial services company to win over new clients. A flawless onboarding helps organizations to improve customer experience and business profitability. A firm cannot meet the required expectations through the manual onboarding process as it is time-consuming. So they need to buy a client onboarding software for financial services to manage the whole activity. The best customer onboarding software for banks will speed up the entire process and help customer retention. An onboarding tool has the following benefits for financial institutions. Customer retention No one likes to wait in this fast-paced world. If you have onboarding software, the whole process will be completed in no time. It will have a very good impact on the customer, and he feels satisfied with your service. A satisfied customer is easy to retain. The number of customers is directly proportional to the firm’s profit. So, it will indirectly increase