Design and Delivery of Fully Automated Customer Onboarding for Major Global Bank
May 12, 2022
Design and Delivery of Fully Automated Customer Onboarding for Major Global BankDownloads
This major global bank had a highly manual, paper-based customer onboarding process that was disjointed across underlying business lines. This led to significant operational inefficiencies, differing levels of regularly compliance and a poor customer experience.
Our team were engaged to redesign the customer onboarding process for the customer’s wholesale and corporate banking. We created a vision for the customer onboarding journey that joined together best-in-breed financial crime technology covering ID&V, data aggregation and pre-fill, screening, automated customer risk scoring and product fulfilment.
Our delivery has enabled an end-to-end simplification of the KYC data requirements and removed duplication from the onboarding documentation. The overall customer onboarding time was significantly reduced from an average of 25 days to 2 days. The client was satisfied with the provided support in gaining regulator’s approval of the automated approach in 15+ countries.
May 12, 2022
Senior Managing Director, Head of EMEA Financial Crime Compliance
Senior Managing Director, Head of UK Financial Crime Compliance