Did You Know?
As of November 2017, the FATF alone has publicly identified 64 different jurisdictions with weak AML/CFT regimes. Of these, 52 have since made the necessary reforms to be removed from the process.
Affordable, easy-to-use. With the most robust feature set in the industry.
“SILO is a huge hit! We provided a demo today to the inspectors and they both were very impressed and thrilled with how easy it seemed to operate and the reporting went over like velvet!”
“…the reports that we have provided and the speed in which SILO has been able to retrieve [data] is bringing rave reviews.”
Access critical data in a dashboard format
Instantly access a real-time overview of your businesses’ compliance status in clear, simple to understand visuals. As your status changes, your dashboard reflects it—putting you ahead of a situation, instead of chasing it.
Improve compliance staff efficiency
Rather than manually updating a confusing ream of spreadsheets, compliance staff members can upload client due diligence, keep track of due diligence in progress and client monitoring due, and generate compliance related reports at the click of a mouse. No more searching for data or struggling with inadequate solutions that were not built for the challenges of AML compliance and record keeping.
Easily manage client due diligence
SILO gives each of your clients his or her own profile page, which includes due diligence documents, notable risks (if any), your notes, senior management approval of PEPS and other critical data—all in an easy-to-view format. Documents uploaded into SILO can be assigned expiry dates, and you are notified at log-in of any expired documents. You can also instantly generate reports on clients with missing documents. Additionally, you can connect key relationships to corporate clients and satisfy yourself at a glance whether or not due diligence has been completed on any such connections.
Perform real-time risk analysis
In addition to providing risk-rating and other customisable drop-down menus, SILO has a unique “Risk Score” feature that automatically calculates a client’s risk score based on that client’s Politically Exposed status, any higher-risk jurisdictions it is associated with, and any alerts and/or higher risk services you provide them.
Stay on top of client monitoring
Immediately upon log-in, SILO provides information on clients due for monitoring and those with expired documents. You can also run separate reports on Politically Exposed Persons, introduced clients, clients with missing documents, staff work load and much more.
Simplify staff training
SILO makes staff training simple, consistent—and reflective of your firm’s unique and individual requirements. Simply upload onto SILO your training materials, videos and customised quizzes. Each staff member can undertake training when it’s convenient for him/her to do so. SILO can even generate real-time reports on training status, giving you insight into your staff’s preparedness, as well as making it easy to demonstrate to regulators the extent to which staff members have been trained.
“Reliable, amazing, efficient and easy to use, SILO Compliance has helped us tremendously to monitor when KYC documents become expired. In addition to wonderful features, SILO offers excellent user and system support. We couldn’t be more pleased with SILO to help us accomplish our department needs.”