KYC Portal, a RegTech platform specialising in client lifecycle management (CLM), is helping financial institutions strengthen compliance frameworks through the introduction of a ‘golden record’ — a unified, accurate and complete client profile.
The goal of this approach is to consolidate fragmented client data, reduce operational inefficiencies, and significantly minimise regulatory risks associated with inconsistent records. With KYC Portal CLM, firms can create and maintain a centralised, real-time source of truth for every client interaction across the lifecycle.
A golden record in CLM refers to a master client profile that merges data from multiple systems — such as CRMs, onboarding tools, screening databases, and document repositories — into one validated and harmonised source. a golden record should include verified identity data, UBO mapping, risk assessments, and updated screening results within a single interface, it said.
It stated that many financial institutions rely on siloed systems, CRM tools, document storage, onboarding platforms and screening databases, which lead to multiple, inconsistent client records.
This creates a range of challenges, including missed risk indicators, conflicting data between departments, increased false positives, and audit and reporting gaps.
KYC Portal CLM offers centralised client profiles and real-time data synchronisation. It also boasts built-in duplicate detection and merging tools, helping institutions clean and streamline their records while maintaining a complete audit trail. Dynamic risk profiles are constantly updated based on evolving client data, activity, and jurisdiction.
KYC Portal provides a number of significant benefits. These include improved regulatory confidence through consistent reporting, enhanced operational efficiency by eliminating redundant processes, a smoother client experience due to faster onboarding, and reduced exposure to compliance breaches.
For more information, read the full story here.
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