Know Your Customer

With stringent anti money laundering regulations, hefty fines & sanctions on non-compliance, there is increased need for banking institutions to have a strong KYC (Know Your Customer) process. Key challenges faced by financial institutions are:

  • Ensuring compliance with new regulations such as FATCA & Dodd Frank
  • Increased regulatory scrutiny & diverse regulatory requirement across geographical locations
  • Lack of clearly defined KYC policy with varying policies procedures across countries and institutions
  • Manual processes & sub-optimal case management systems which increases risk & reduce efficiency
  • Costs associated with monitoring, auditing and validating processes periodically

What We Offer

Virtusa's bespoke KYC framework and KYC product partnerships gives a range of offerings to cover different client requirements.

How We Deliver Value

With our deep domain expertise and technological solutions we can help financial institutions adhering to KYC requirements.

Assessment & gap analysis: An assessment framework, which can objectively review your existing KYC compliance process & compare it against industry standards. Assessment recommends an optimal solution & roadmap for the future state

Implementation: We help you in building

  • Comprehensive KYC solution meeting regulations with the best client experience
  • An Integrated single client view across geographies and subsidiaries
  • Cohesive document management system for gathering, storing & retrieving documents for KYC identification, certification, and recertification processes.
  • Real time transaction monitoring solution and alert competence
  • Gamified/Millennial dashboards for enhanced operational performance
  • Scalable and configurable to changing future demands

Remediation: We can assist you in remediation needs of existing clients or backlog lists to bring them in line with current regulatory mandates.

Partner Solutions: We have partnerships with leading industry vendors for out-of-the box KYC solutions.

  • KYCnet: KYCnet has a KYC product in hosted/licensed mode. They also provide KYC operation services around their platform. They are specialized in providing ‘KYC as a Service’
  • Jocata: An innovative products and services firm specializing in KYC, AML and CFT compliance for financial services industry clients. Their products have strong customization, configuration and reporting capabilities

Benefits We Offer

  • Increased flexibility & Scalability: Single customer view, unified due diligence process across organization makes system flexible to adopt changes & improve scalability
  • Competitive Advantage: By streamlining KYC compliance process, overall onboarding time can be reduced which can improve customer satisfaction & hence can provide a competitive advantage
  • Improved monitoring & increased efficiency: Automation eases monitoring of moving targets, generate alerts & provide interface for regulatory reporting which increase efficiency of compliance process
  • One-stop-shop: From technology solutions (bespoke or out-of-box commercial products), consulting and operations
  • Gamified/Millennial dashboard: Which can spur employee productivity and ensure there is better client onboarding experience


On March 3rd, 2016, Virtusa Corporation acquired a majority interest in Polaris Consulting & Services Limited. VirtusaPolaris, our new market-facing brand, represents the combined strengths of Virtusa and Polaris, including our strong software engineering heritage, deep domain expertise and focus on applying innovation to solving critical core business issues for clients., our new website is where we provide our latest thinking.