Real time customer due diligence

We implemented real time customer due diligence and batch KYC rolling reviews for a USA electronic bank for a major Wall Street firm

The challenge

Our task was to build a real-time customer due diligence (CDD) decision hub for an on-line retail bank.  We needed to integrate with third party external commercial data suppliers, internal bespoke bank risk engines, the Thompson Reuter Bridger Sanction Screening engine and the Actimize CDD risk engine to provide the on-line bank with real-time risk decisions at customer on-boarding.  As the customer interacts with the bank web-site, we also needed to make a risk decision and recommend actions to the on-line bank.

Our approach

We replaced the existing bespoke CDD and know your customer (KYC) rolling reviews systems and processes with a vendor product, integrating that product with the transaction monitoring platform. We also worked to build a batch process within the tool for KYC rolling reviews.

Our impact

We helped our client to achieve measurable and significant cost reduction and avoidance by not on-boarding high risk clients, thus avoiding the associated off-boarding process costs.  We also reduced the client’s compliance risks by not on-boarding high risk clients.

Meet our specialists

Pino Vallejo

Managing partner

Emiliano Salcines

Managing partner