Our client, a prominent player in the international banking industry, faced significant challenges in customer due diligence (CDD). The bank struggled with disconnected customer cases, numerous manual tasks, and a lack of centralized oversight. Inefficient risk indicator management further exacerbated these issues, leading to missed opportunities and operational inefficiencies
Our International banking client found itself caught up in the complexities of customer due diligence (CDD). Disconnected customer cases, multiple manual tasks, and a vacuum of centralized oversight left the bank desperate for a breakthrough. The absence of cohesive risk indicator management only added to the turmoil, painting a dire picture of inefficiency, and missed opportunities.
Solution.
Our blueprint was clear: overhaul the CDD
process from the ground up:
Merging associated customers with primary cases for fluid workflows.
Centralized A checklist system transforming tracking, auditing, and visibility into a streamlined command center.
Elevating risk management by integrating and updating vital data across platforms.
Automation & Integration: Reducing manual drudgery by 80%, welcoming a new business segment into the fold seamlessly.
The impact.
An 80% reduction in manual effort, a centralized hub of clarity, and an enriched tapestry of risk indicators revolutionized the CDD process. With the new business segment now under the Financial Crime Transformation Program (FCTP) umbrella, legacy systems became relics of the past. Enhanced visibility and reporting mechanisms now guide strategic decision-making, empowering analysts like never before
