Kinectify, a compliance software and advisory company, has announced a strategic relationship with Caesars Southern Indiana (CSI) and the Eastern Band of Cherokee Indians. CSI wishes for Kinectify to bolster and modernize its anti-money laundering (AML) capacity.
Kinectify proved its superior AML capabilities through a series of trials. In these tests, the company’s data-gathering capabilities and workflows saved CSI over 7 hours per investigation. It provided clean and well-documented Know Your Client (KYC) / Enhanced Due Diligence (EDD) reviews with a digitized approval process.
With under six hours of training from a Kinectify compliance expert, CSI began completing KYC and EDD reviews in under 45 minutes. It completed automated risk scoring of 640,000 players during this time.
CSI Head of Regulatory Compliance Tonda Rector commented: “Our relationship with Kinectify has brought enormous value to our team. The Kinectify user interface is intuitive and easy to use.
“It saves my team hours of work on integrations and workflows for each KYC review as we assess regulatory actions, watchlists, litigation, media, and other factors that present a risk to our organization.”
These new KYC / EDD capabilities will enhance CSI’s compliance program by giving it access to international datasets and net worth information that was previously unavailable to it. This includes information on over 6 billion individuals and 300 million companies in 60+ languages worldwide.
CSI opened in 1998 and is operated by EBCI Holdings; it uses the Caesars brand under the terms of a license from Caesars Entertainment.
ECBI CEO Scott Barber commented: “We are delighted we selected Kinectify to increase CSI’s efficiency and capabilities for AML compliance.
“By providing our organization with clear visibility on AML compliance, the EBCI leadership team is now confident that their AML resources are being appropriately and effectively managed.”
