Banking & Insurance Finance & Accounting
During a Customer Due Diligence (CDD) process, sales employees classify the risk related to their clients. This process is a very time-consuming task and requires lots of manual actions. We offer an intelligent RPA solution that is able to fully automate this process. Our robot works consistently, making the process less prone to human errors.
We were challenged by a Finance & Accounting firm to enhance their Customer Due Diligence (CDD) process. The company classifies the risk of a client to determine whether to start or proceed working with this client. To do so, sales employees fill out a so-called Customer Due Diligence (CDD) tool. The first step of the procedure is to retrieve a report with proof of existence of the client. After this, employees identify the executive committee to put a finger on members who may cause any integrity issues. They create a screening report on each individual. The Compliance department further investigates clients which are flagged during this process.
This process is highly repetitive and extremely time-consuming. The applications used (Mint Global, World Check) are sometimes slow. The process is also prone to human error, especially when looking up the correct client name in Mint Global. This can lead to multiple results, where most are not relevant for the CDD process.
Years to ROI
Hours saved annually
Of effort automated