On July 1, 2017, the fourth European Union Directive on the prevention of money laundering came into force. The new directive provides for constant monitoring of all customers, reinforcing the need for continuous risk assessment, based on information provided by customers or collected from other sources.
One of the most successful methods for such assessment is scoring. Based on different risk and profile factors, the scoring assigns a score to each client, taking into account the information that the client provides at the time of opening the account or the information that the institution collects, over time, in the database. The scoring solution uses advanced algorithms to calculate the risk level of that same client.
Quidgest’s scoring solution, QScoring, is prepared to analyze and implement different types of information and consolidate it through a scoring system.