Ongoing Monitoring

Ongoing monitoring solutions for any size business

Maintaining your financial services organization’s safety involves more than just initial due diligence to make sure customers are safe when they first create an account — you need to continuously protect your customers’ safety in every procedure, even as situations change. To protect customers throughout the entire customer lifecycle, you should perform ongoing monitoring, which involves continuously monitoring your customers and receiving automatic, real-time notifications when something changes. To perform effective ongoing monitoring, use the tools available in a public and private records search engine like Tracers.

Ongoing monitoring and evaluation to keep an eye on all third parties 

It’s important that you maintain continuous monitoring on everyone who interacts with your organization, and that even includes third parties and other partners that aren’t customers or vendors. When you monitor every procedure and business relationship, including all third parties, you protect everyone’s safety. 

To perform continuous monitoring management on third parties, use a public and private records search engine to gather information and keep an eye out for anything that changes. With access to comprehensive and reliable data, you’ll be able easily maintain a complete view of every business relationship, including third parties, and reduce your risk in every procedure.


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Perform ongoing compliance monitoring to maintain compliance with regulations

Local and governmental regulations are important to understand, particularly for financial services businesses that could face legal consequences or other challenges if they fail to comply. Many regulations involve rules regarding which individuals you can or cannot provide financial services to. If there’s evidence that someone’s using financial services to commit a crime, you might legally have to suspend that person’s account.

Although policies like identity verification and customer identification programs improve security and help ensure that an individual isn’t committing a crime fraud in a financial transaction, it’s important to also perform continuous monitoring in order to make sure that you’re maintaining legal compliance on an ongoing basis. If something changes that could affect your compliance, you need to know immediately, and a public and private records search engine can provide you with that up-to-date information.

Tailor your ongoing monitoring search requirements to your needs

Your ongoing monitoring search requirements will depend on a variety of different needs and structural choices, and you should tailor your solution to fit your needs. For example, one factor to consider is how many searches you need to perform a day. If you’re handling thousands of searches every day, you’ll need different data collection methods than if you’re only doing one or two. To provide you with the best data collection for your organization’s specific needs, Tracers offers three different searching options:

Depending on your organization’s needs, you may choose one of these options, two different options, or a mix of all three, and it’s up to you to decide the best solution. When you can choose the data collection procedure that best works for you, you’ll be able to perform more efficient and effective continuous monitoring.

Use ongoing monitoring to protect both you and your vendors 

Ongoing monitoring can seem daunting — it costs extra money, it takes more time, and you might not see the results immediately. Why do it? It’s worth the time and resources. Continuous monitoring helps ensure that you, your vendors, and your customers are all protected. With greater protection, you’ll find that your existing vendors and customers are more likely to trust you and build better business relationships, as well as create new opportunities. 

While ongoing monitoring still requires time and resources, a public and private records search engine makes it significantly easier. You can quickly access the data you need to perform customer due diligence and customer and vendor risk assessment, as well as automate notifications for when something changes, helping you perform ongoing monitoring in a more efficient and cost-effective way. When you use the right service providers for ongoing monitoring policies, you’ll facilitate stronger business relationships, build a better reputation, and in turn maximize your return on investment.

Which industries can utilize ongoing monitoring tools from Tracers?

Ongoing monitoring is useful for many industries other than just financial institutions. For industries that are service providers, ongoing monitoring can help ensure that everyone in your organization is protected and the people you’re providing services to are safe. These are a few of the other industries that can benefit from ongoing monitoring: 

Whether you’re looking to maintain legal compliance, protect the people interacting with your organization, or build an overall better reputation and better business relationships, consider implementing ongoing monitoring policies into your day-to-day business operations. With the tools available in a public and private records database, you can perform ongoing monitoring more easily and improve your organization’s overall functions.

More information

What is ongoing monitoring?

Maintaining your organization’s safety isn’t just about making sure customers are safe the first time they create an account. It’s also about making sure customers continue to stay safe as you continue to keep them on as a customer. Ongoing monitoring can make your company safer because you’re always understanding more about your customers, even as their situations change.

Who can perform ongoing monitoring?

Ongoing monitoring is useful for many industries, not just financial services industries with a traditional understanding of “customers.” Anyone who benefits from your services can be considered a customer, which is why a variety of industries, such as investigators, law enforcement, corporations, and the government, can all benefit from ongoing monitoring. 

What does ongoing monitoring reveal?

It’s important that you maintain an eye on everyone who interacts with your organization, and ongoing monitoring reveals information that allows you to do that. That even includes third parties that might not be specifically customers or specifically vendors. When you maintain your monitoring process on everyone your organization interacts with, including all third parties, you’re making sure everyone stays much safer.

What do I need to get started performing ongoing monitoring?

To get started with performing ongoing monitoring, use the ongoing monitoring tools available at Tracers. Tracers offers comprehensive data on everyone involved in your organization, and can automate notifications for when something of concern arises. Tracers also offers numerous methods for gathering information so you choose the method that best suits your company. 

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For information about how we collect, store and use your personal data, please read our Terms of Service and Privacy Policy.