Acquiring another bank, our Client needed to re-document thousands of client relationships. Within a strict timeline, Atfinity delivered a fully-fledged platform for complex relationships…
Our client is a Swiss private Bank that is a subsidiary of an innovative global banking group. Their clientele are high net worth individuals (HNWI) and ultra high net worth individuals (UHNWI) from various domiciles and with various nationalities. Next to the local Swiss requirements, the bank needs to fulfil the global standards imposed by its headquarters.
The onboarding processes, specifically the KYC/KYB/AML requirements proved to be demanding and time-consuming. To enhance the customer experience, streamline procedures, and mitigate costly errors in data collection, the bank turned to Atfinity for assistance.
We successfully deployed a highly adaptable private banking onboarding experience in just eight weeks:
The newly structured process, encompasses:
1. Digitised private banking onboarding and KYC/KYB reviews within just eight weeks.
2. Achieved enhanced flexibility by redesigning processes, including the implementation of risk-based onboarding journeys.
3. Empowered bank employees to independently establish and maintain processes, thanks to Atfinity's user-friendly nature.
4. Notable reduction in data collection errors, streamlined contract generation, and expedited internal reviews.
5. On average, the onboarding time decreased from over 7 days to less than 6 hours.