Easy ID is a customer information program (CIP) system. It consolidates CIP data for both consumer and commercial accounts. And, it streamlines the work required for beneficial ownership compliance.
- Easy ID (EID) makes it easy to identify beneficial owners for a qualifying company.
- Quickly identifies beneficial owners tied to multiple companies.
- Monitors entities tagged for a beneficial-ownership update, and, reports on the update status.
- Provides OFAC checks on new customers, signors, and beneficial owners.
- Performs OFAC scrubs against the entire EID CIP database.
- Lets you attach comments, documents, spreadsheets and .pdf files to the CIP records.
- Alerts you if critical data is missing from newly opened accounts..
- Provides a new-account questionnaire that will help you identify customers anticipating above-average activity.
- Data entered into EID is retained indefinitely.
- CIP data can be tied to multiple accounts.
- CIP forms, including certification of beneficial owners, can be reprinted at any time.
- The OFAC checker operates in-house; it will not be impeded by a slow Internet connection.
- Data from the new-account questionnaire is passed to the EDD function in CTM. This helps identify customers who open accounts with deception.
- Helps your bank “go green” by removing the need to print and store documents.