The Foundation

KYC2020 was founded in 2016 to meet the sanction screening requirements of Small and Medium Size Enterprises (SMEs) that lacked viable and affordable solutions.   A review of available market solutions exposed a significant deficiency: AML/CFT systems were either too expensive, too disruptive to transaction flow or simply excessive for the purpose of a SME.   The problem was that compliance systems had traditionally been aimed at financial institutional that have a larger burden of compliance.   The emergence of KYC2020 as a stand-alone product/service was driven by the compliance needs of many online Money Services Businesses (MSBs) and grew from there.

The Mission

We are seasoned industry professionals and innovators with deep software experience.   We are driven by our values, sense of community and our sincere desire to make KYC compliance easy & cost effective for any size organization

KYC2020 Team

Meet the KYC2020 Leadership

Rajeev Bahri

Founder, Managing Director

Rajeev Bahri, CFA, CAMS, is the Co-Founder and Managing Director of KYC2020, LLC. Mr. Bahri has an MBA from University of Chicago Graduate School of Business, and a B.S.E.E with highest honors from the Georgia Institute of Technology.   His corporate and entrepreneurial career spans over 27 years.   Mr. Bahri has held a multitude of functional and leadership roles in banking, trading, and software development operations in corporate giants including AT&T, FIRST CHICAGO (now CHASE), ABN AMRO and AIG.

Mr. Bahri guides the product vision, marketing and business strategy of KYC2020 LLC.

Joseph Iuso

Founder, Director

Joseph Iuso, CAMS, is the co-founder and Head of Business Development and AML Compliance Specialist of KYC2020.   Joseph graduated as a Computers System Technologist from Mohawk College.   He is a designated Certified Anti-Money Laundering Specialist (“CAMS”) and also serves as CAMLO for several Canadian corporations.   His corporate and entrepreneurial career spans over 30 years, with functional and leadership positions at companies including PaymentSource, Monitex, UseMyServices, JAWZ, RBC, CIBC, IBM, ACI, and ING Direct.

As the Head of Business Development & AML Compliance Specialist, he directs the sales and marketing functions of KYC2020, as well as other business functions related to KYC and compliance.

Meet the KYC2020 India Team

The core to our product advantage, vision and value proposition to our customers is a software development strategy that is guided by our in house team of VSkills™ Certified AML/KYC Officers.   Our seasoned software engineers and support specialists are incentivized to obtain certifications as AML/KYC Officers; ensuring our steady evolution from a "Product Only" to a Services Company.   Our team looks forward to serve your AML/KYC needs in a greater capacity in the near future in a cost effective manner.

KYC2020's mission is to be the single source for checking lists for KYC, AML, PEP, and CFT due diligence.   We aggregate, consolidate, and standardize global data sources to handle the wide ranging Know Your Customer rules and regulations regimes around the world.   Sources include sanction lists, regulatory enforcement lists, watch lists, PEP lists, criminal lists, and open government data lists.   With our sophisticated search and scoring engine, Compliance officers are able to screen against any and all these lists to ensure their Risk Based approach meets, and even exceeds the regulators requirements for their specific regions and segments of business.

Data Integrity matters

KYC2020 is now trusted by many AML and compliance professionals worldwide from Financial Services, Money Service Business, FX brokerage, and charities.   All looking for the most comprehensive lists available to apply to their unique Risk Based Approach.   KYC2020 provides access to these lists through its Online portal, Batch Interface, and extensive APIs.   Data Integrity is the single most important aspect of ensuring that our customers have the latest information available at their fingertips.

Future Vision

One of the biggest pain points and challenges with KYC list screening is that it invariably requires human/manual labor because of the number of false positives that are produced in the search process, no matter how sophisticated it is.   This is due to several reasons, starting with lack of global standards in maintaining lists, variability in information stored from country to country and city to city, lists that are maintained in different languages and must be translated, name phonetics in different languages, and so forth.   KYC2020 is investing heavily and developing a proprietary Screening Methodology that, greatly reduces the number of false positives in a system, smart filtering rules to greatly reduce the time for manual screening, and the use of AI Concepts for self-learning for improved scoring.

KYC2020 also recognizes that the AML/KYC function for some of the smaller MSBs, for startup block chain currency exchange operators, and ICOs is NOT core to business operations.   Without some level of economies of scale this compliance function, no matter how sophisticated the tools and technology, requires a HUMAN to manage screening, signoff, record keeping, and work flow management.

A 2018 Vision of KYC2020 is to leverage our team of in-house AML/KYC Compliance Officers to offer a cost-effective fully managed solution built upon our tools for firms that want to outsource parts of their screening functions.

© 2016 KYC2020 LLC, All Rights Reserved.