Question 1

Is SpeedyDD suitable if we already have an onboarding process?

Accepted Answer

Yes. SpeedyDD can replace manual steps or integrate with your existing workflows. You can migrate data and standardize onboarding without disruption.

Question 2

How secure is SpeedyDD?

Accepted Answer

SpeedyDD is ISO 27001 certified and uses end-to-end encryption for all links, requests, and documents.

Question 3

Will this help with audits?

Accepted Answer

Yes. SpeedyDD is designed to keep you audit-ready with real-time visibility, document tracking, and detailed activity logs.

Question 4

How long does it take to get started?

Accepted Answer

Most teams can start onboarding clients within days — not months.

Question 5

What is the difference between KYC and AML?

Accepted Answer

KYC (Know Your Customer) is the specific process of identifying and verifying a client's identity. AML (Anti-Money Laundering) refers to the broader framework of laws and regulations designed to prevent financial crimes like money laundering and terrorist financing.

Question 6

What is Customer Due Diligence (CDD)?

Accepted Answer

Customer Due Diligence (CDD) is the process of collecting and verifying information about a customer to assess the risk they pose to the business and ensure they are not involved in illicit activities.

Question 7

What is risk-based onboarding?

Accepted Answer

Risk-based onboarding is a strategy that adjusts the level of scrutiny during client intake based on their specific risk profile. This allows low-risk clients to be onboarded quickly while high-risk clients undergo more thorough investigation.

Question 8

What is Enhanced Due Diligence (EDD)?

Accepted Answer

Enhanced Due Diligence (EDD) is a high-level KYC process used for customers who pose a greater risk, such as Politically Exposed Persons (PEPs) or entities from high-risk jurisdictions, requiring more rigorous documentation and monitoring.

Question 9

What is KYB (Know Your Business) onboarding?

Accepted Answer

KYB onboarding involves identifying and verifying a legal entity. This includes verifying company registration, identifying directors, and uncovering Ultimate Beneficial Owners (UBOs) to prevent corporate-level financial crime.

Question 10

What does it mean to be audit-ready in compliance?

Accepted Answer

Audit readiness means having all compliance data, activity logs, and documentation organized and accessible in real-time so that your business can demonstrate regulatory adherence immediately during an external or internal audit.