A large US based corporate & investment bank wanted a customized KYC platform to streamline and standardize their KYC process which included customer on-boarding, customer due diligence (CDD), risk scoring and KYC refresh
Solutions
Prepared a Business Requirement Document (BRD) for Unified KYC platform that optimized the client on-boarding process
Automation of the complete KYC life-cycle, from on-boarding to remediation, including ongoing diligence, refresh and an empirical mechanism to risk rank the clients
Standardized global KYC compliance guidelines
Impact
Quicker and more accurate Client Onboarding Effective KYC remediation mechanism consistent with the standardized policies of the bank Integrated Risk Assessment capability in order to Identify the AML risk of clients & arrive at suitable remediation schedules based on the Risk Assessm