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Banking & Insurance
Finance department

Automating the Customer Due Diligence process with RPA

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.

3 weeks delivery time

Use case: Manually assessing risk during Customer Due Diligence

If a company wants to enter into a relationship with a (potential) customer, performing the Customer Due Diligence (CDD) process is mandatory. However, entering a new customer relationship equals a long list of things to check. Relevant information regarding the organization and its executive members all needs to be gathered. Any integrity issues and potential risks are included in a screening report. A compliance department then further investigates clients which are flagged during this process.

Performing this process in a careful and attentive manner is of utmost importance, as a sound CDD check will prevent loss of integrity and help avoid paying large fines. The process is not only prone to human error, but is also extremely time-consuming. Some of the applications used during this process (Mint Global, World Check) can be rather slow, resulting in a lengthy CDD process.

Applied technologies

Robotic Process Automation

2

Years to ROI

124

Hours saved annually

60%

Error reduction

100%

Of effort automated

Our solution: A software robot to fully automate the CDD process

We created a digital workforce by implementing Robotic Process Automation (RPA), which is ideal for manual, repetitive and rule-based tasks. Our robot is able to log into all applications and extract reports about a company and its board members. It is developed in a way that it works secure and consistently, making the process less prone to human errors. Our solution is built to take the following steps:

  • Search for proof of existence report of company in Mint Global
  • Extract all current board members of company
  • Check for any possible integrity issues
  • Build case report for each individual board member in World Check

We created a robot that fully automated the CDD process. Since deployment of the robot, over 124 hours have been saved yearly. Due to its consistent way of working, the process is less sensitive to human errors, leading to 60% error reduction.

RPA offers a solution that is effective, efficient and reliable. Workers can refocus on work that matters and stop wasting time on extracting reports through various applications.

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