Originally a consulting company supporting major banks with regulatory challenges and tackling financial crime, CDD has now developed an operating model that supports multi-jurisdiction regulatory compliance – with ethics at its core.
The CDD technology platform has its own machine learning capabilities and its compliance engine means clients can develop a personalised approach for customer-focused operations. This could involve customer management and onboarding, utilising ID technology such as facial recognition, biometric identification and passport validation, as well as safeguarding or any other regulatory compliance checks.
The company understood that analysis of personal data was central to its customer proposition, so committed to empowering individuals to manage and control their data, utilising the main CDD compliance platform, as well as through its new customer offering for safe personal data exchange, SafeGuarden.
Use of data
CDD’s systems mostly collect data – biometric data, passport details, driving licence and proof of address, for example – directly from the data subject, often as part of their engagement with businesses that provide regulated services. Other data collection comes via third-party providers who draw from reliable corporate data sources.
Working with the Government’s DCMS initiative, the Digital Identity & Attribute Trust Framework (DIATF) and by participating in the Information Commissioners Office (ICO) regulatory sandbox, the CDD service captures the data with consent and empowers individuals to safely share it using a digital wallet or digital identity.