In the modern financial ecosystem, effective risk profiling is inextricably linked with a robust and efficient Know Your Customer (KYC) process. This training course is designed to empower financial institutions and compliance professionals to move beyond manual, time-consuming procedures by embracing automated KYC. Participants will learn how to leverage artificial intelligence, biometric verification, and digital identity platforms to streamline customer onboarding, enhance due diligence, and create dynamic, real-time risk profiles that are a true reflection of their clients' risk exposure.

This comprehensive program provides a practical roadmap for implementing a future-proof KYC framework that is both compliant and cost-effective. Participants will gain hands-on experience in using cutting-edge technology to perform identity verification, screen against watchlists, and continuously monitor customer data for changes in risk. The course is a strategic investment for institutions seeking to reduce fraud, improve the customer experience, and transform their compliance function from a back-office burden into a strategic enabler of secure and efficient business operations.

Duration: 10 days

Target Audience:

• Compliance Officers
• Risk Managers
• Financial Crime Analysts
• Onboarding Specialists
• Operations Managers
• Fraud Analysts
• Data Scientists in Finance
• FinTech Professionals
• Internal Audit Professionals
• Product Managers

Objectives:

• Understand the paradigm shift to automated KYC and its benefits.
• Master the use of AI, biometrics, and digital identity for verification.
• Learn how to design and implement a streamlined, automated onboarding process.
• Develop a framework for real-time risk profiling and continuous monitoring.
• Ensure automated KYC processes are compliant with global regulations.
• Integrate automated solutions with existing core banking and CRM systems.
• Mitigate the risks of identity fraud and money laundering more effectively.
• Measure the return on investment and business impact of automation.
• Overcome the technical and organizational challenges of implementation.
• Build a more secure, efficient, and customer-centric compliance function.

Course Modules:

Module 1: The Evolution of KYC and Customer Onboarding

• The limitations of traditional, manual KYC processes
• The business case for automation: efficiency, security, and customer experience
• Understanding the regulatory push for digital identity verification
• The role of technology in combating financial crime
• A look at the future of digital identity

Module 2: Foundational Concepts of Automated KYC

• Defining key terms: biometric verification, digital identity, liveness detection
• The automated KYC workflow from start to finish
• Integrating with a customer relationship management (CRM) system
• The importance of a seamless user experience
• An overview of the technology stack for automated KYC

Module 3: Identity Verification with AI and Biometrics

• Using AI for document verification and optical character recognition (OCR)
• The role of facial recognition and fingerprint scanning
• Understanding liveness detection to prevent spoofing
• The accuracy and reliability of automated verification
• The ethical and privacy considerations of biometric data

Module 4: Real-Time Screening and Sanctions Checks

• Automating the screening process against watchlists and sanctions lists
• The use of AI for name matching and fuzzy logic
• Integrating with data providers for real-time updates
• Strategies for managing false positives and false negatives
• Best practices for continuous sanctions screening

Module 5: AML and Transaction Monitoring

• The role of automated KYC in a holistic Anti-Money Laundering (AML) framework
• Using AI to detect suspicious transaction patterns
• Linking KYC data to transaction monitoring alerts
• The importance of a unified view of the customer
• Case studies on effective AML automation

Module 6: Risk Scoring and Profiling

• Designing a risk-based approach to KYC
• Automating the risk scoring process based on multiple factors
• Creating dynamic risk profiles that update in real time
• Using AI to identify changes in a customer's risk level
• The role of enhanced due diligence (EDD) in an automated environment

Module 7: The Digital Identity Ecosystem

• Understanding digital identity platforms and decentralized identifiers (DIDs)
• The role of blockchain in secure identity management
• The future of self-sovereign identity
• How to leverage external identity providers
• The benefits of a federated identity model

Module 8: API Integration for Automated KYC

• Using APIs to connect with identity verification and screening providers
• Designing a secure and scalable API architecture
• The importance of API documentation and security
• Handling data exchange and ensuring data integrity
• Practical labs on integrating with a mock KYC API

Module 9: Compliance and Regulatory Frameworks

• Navigating global regulations like the Bank Secrecy Act (BSA) and GDPR
• The role of automated KYC in meeting regulatory requirements
• Ensuring audit trails and record-keeping are automated
• The importance of transparency and explainability in AI decisions
• Preparing for regulatory audits of an automated system

Module 10: Fraud Prevention and Security

• The use of automated KYC in combating synthetic identity fraud
• Detecting and preventing account takeover fraud
• The importance of multi-layered security protocols
• Strategies for protecting against data breaches
• The role of a fraud detection platform

Module 11: Customer Experience and Onboarding

• Designing a frictionless and user-friendly onboarding journey
• The importance of a mobile-first approach
• Reducing customer drop-off rates with automation
• Measuring the impact on customer satisfaction
• Balancing security with a positive customer experience

Module 12: Vendor Selection and Implementation

• Identifying and evaluating automated KYC providers
• Key questions to ask potential vendors
• Developing a proof of concept and pilot program
• The importance of a phased implementation strategy
• Measuring the ROI and total cost of ownership

Module 13: The Future of Automated KYC

• The role of quantum computing in identity security
• The rise of continuous, real-time risk monitoring
• Anticipating future regulatory and technological changes
• The convergence of KYC, AML, and fraud detection
• A look at the next generation of identity technology

Module 14: Practical Application and Case Studies

• A guided project on designing an automated KYC workflow
• Hands-on exercises with a demo platform
• Analyzing real-world case studies of successful implementations
• Group problem-solving on common challenges
• Presenting a business case for automation

Module 15: Governance and Change Management

• Establishing a governance framework for an automated system
• The importance of clear policies and procedures
• Training and upskilling compliance and operations teams
• Securing internal buy-in and managing stakeholder expectations
• Fostering a culture of security and compliance

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Training Venue

The training will be held at our Skills for Africa Training Institute Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Skills for Africa Training Institute certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Terms of Payment: Unless otherwise agreed between the two parties’ payment of the course fee should be done 10 working days before commencement of the training.