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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 simple to identify beneficial owners for a qualifying company.
The system quickly identifies beneficial owners tied to multiple companies.
The system monitors entities tagged as needing a “beneficial-ownership review” and reports on the review status.
EID provides OFAC checks on new customers, signors, and beneficial owners.
It performs OFAC scrubs against the entire EID CIP database.
The system lets you attach comments, documents, spreadsheets and .pdf files to the CIP records.
EID alerts you if critical data is missing from newly opened accounts.
The system has a new-account questionnaire that will help you identify customers anticipating above-average activity.
The data entered into EID is retained indefinitely.
The CIP data can be tied to multiple accounts.
All CIP forms, including certification of beneficial owners, can be reprinted at any time.
The data from the new-account questionnaire is passed to the EDD function in CTM. This helps identify customers who “open accounts with deception”. (Or, to put it differently: EID helps you identify lying scoundrels that you don’t want as a customer.)
The OFAC checker operates in-house; it will not be impeded by a slow Internet connection.
And, EID helps your bank “go green” by removing the need to print and store documents.