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Risk and Compliance Management

Seize and balance your competitive opportunities with a Risk Strategy!

Comprehensive, timely, and trusted data to ensure compliance while managing risk

With emerging technology, it is crucial to maintain the balance between avoiding failure and handling the grip of competitive opportunities.
Today’s key business drivers are technology and high-quality, well-maintained data sets. With real-time, accurate data insights a business can deliver an efficient compliance program.

Be it risk and compliance, financial risks, digital identity, third party risk management, anti-money laundering activities, and due diligence, you need reliable, actionable insights to make informed decisions. Whooster gives you access to the most accurate, real-time, and comprehensive data insights.

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Explore How Whooster Data Solutions Mitigate Risk & Support Power Decision Making

Financial Crime Risk Management and Compliance

According to the United Nations Office on Drugs and Crime, it is estimated that up to $2 trillion of illicit funds are laundered through global financial networks every year. Financial crime has become a vital way for fraudsters. These fraudsters are always in search of finding new weaknesses in financial networks which becomes a threat risk for the organizations. Whooster gives you access to the data insights that help your business withstand sophisticated criminals. Identify, mitigate, and take action on the risk, making your KYC and third-party risk management stronger.

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Third-Party Risk Management

Keeping an eye on regulatory and reputational risks is vital more than ever for the corporate sector. Considering business relationships are built on the trust factor and satisfactory regulators, it is crucial to safeguard your organization from exposure to third-party risks or unethical business identities and practices.

With the growing trends, Whooster ensures to help you detect and access third-party risks by providing you with informed, comprehensive, real-time, accurate data insights that comply with global legislation associated with financial crime.

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Due Diligence

Today, there is a growing need for a data-driven approach to due diligence which provides customers or users with detailed insights into the business relationships. Whooster strategizes these insights and provides them to the businesses which makes them easy to monitor suppliers, customers, vendors, etc, and make informed decisions. Due Diligence solutions from Whooster help you ensure absorb data, protect your reputation, and comply with regulations.

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Digital Identity Solutions

With the world transforming to digitalization, public and private sectors must consider digital identity programs. Whooster provides you with solutions to ensure you seek a competitive edge, efficiency, and reduce costs.

Whooster makes digital identity verification of KYC and user-onboarding processes effective to keep up with the frictionless user experience for your users. Some of the verifications Whooster provides:

  • Document Verification

    All files are scanned for their hallmark characteristics. Optical character recognition (OCR) aids the process and authenticates the information even more precisely.

  • Facial recognition

    To avoid identity thefts, photos of the submitted documents are cross-examined with legitimate documents.

  • Risk Screening

    The API technology unlocks the wealth information, criminal history, police records, job data, and other relevant information of the client to dodge financial crimes and defection in the later stages.

Whooster in Action

Steve Joplin, an insurance agent for a major insurance company, just completed the sale of an auto policy for a new customer. Within weeks, the customer reported their car stolen and filed a claim. Relying on Whooster’s access to a wide range of public and private data, Steven compared the suspicious claim to past claims that were fraudulent and noticed a correlation. The claim was immediately flagged for an investigation. Within a day, the customer’s car was located hidden in a barn on their property. Thanks to Steve’s use of Whooster insurance fraud solutions, he saved his insurance company time and money.