GoldTier is a standard built from standards in Java and XML. It runs on standard SQL database platforms, such as Oracle and Sybase, and is deployed as a web-based application, offering rich and interactive user interfaces associated with traditional desktop applications.

The client onboarding and compliance solution is a focused, purpose-built application that leverages the capabilities of the underlying GoldTier platform. This platform was architected to deliver on the scalability and performance requirements of global, enterprise-wide software applications. The security model caters for a diverse set of global users, and its interoperability capabilities allow clients to leverage their existing technology investments. The product supports a wide variety of integration options, including web services and XML messaging interfaces.

Key technology components used across onboarding and KYC include:

• Data Management
• Hierarchy Management
• Requirement Management
• Document Management
• Task and Process Management
• Analysis and Reporting

The 'hybrid' nature of the application combines the extensibility of a platform-based solution with configurable tools refined specifically for the needs of onboarding and compliance, as well as proven, out-of-the-box best practice templates and functionality to address these business challenges.

The GoldTier development team is dedicated to the ongoing improvement of the application and takes pride in proactively incorporating client feedback into the product. Enhancements made to the product, both for technical improvement and to support emerging regulations, are shared with all members of the GoldTier client community.

The challenges of KYC compliant client onboarding, formerly addressed with a series of band-aid solutions, can now be consolidated and managed effectively in a single centralized, feature-rich solution. Whether deployed as a standalone KYC solution or as part of a globally integrated onboarding platform, GoldTier provides the capabilities required to enforce compliance policy while improving the efficiency of the client onboarding process.

These capabilities include:

'Controlling processes for newly engaged clients and providing tools for retroactive scrubbing means compliance across your client base is no longer a moving target.'

GoldTier is designed to address both the tactical and the strategic challenges arising from the need for KYC compliance.

• Controls are put in place on day one for newly engaged clients.
• Tools are provided for the retroactive scrubbing and rolling review of existing clients.
• New or changed regulatory requirements can be implemented immediately to the existing client base through policy configuration screens.

With GoldTier, compliance with policy is enforced systematically for each individual customer on an ongoing basis.

The GoldTier product incorporates all of the functionality required to effectively:

• Manage the onboarding and maintenance of new and existing clients across a variety of teams including sales, relationship managers, operations, compliance, documentation, tax, credit and legal
• Integrate compliance controls into the client onboarding process
• Deliver Know Your Customer (KYC / AML), Customer Identification Profile (CIP), MiFID client classification, USA PATRIOT Act, and related client regulatory due diligence
• Create transparency to stakeholders throughout the client lifecycle.

'GoldTier is creating a standard to address both the tactical and strategic challenges arising from the processes of client onboarding.' HSBC

The solution empowers financial institutions to:

• Meet regulatory compliance demands: with automated due diligence processing and comprehensive client audit profiles on-demand
• Improve time to revenue: with the reduction in paperwork and tightening of account opening cycle times
• Control costs: with the automation of manual tasks, elimination of expensive repeat tasks, and real-time management dashboards
• Enhance the client experience: with the minimization of touch points and repeat requests to your clients.

Each onboarding activity is tied back into a common onboarding framework, meaning client knowledge can be leveraged across all activities. GoldTier enables financial institutions to set policies, adopt regulations and then implement and enforce them throughout these activities.

To receive a complimentary copy of the GoldTier KYC and Client Onboarding Solution brochure with key client commentary please select Contact Us from the menu on the right.