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 UK-based accounting firm that needed to accelerate their KYC and KYC processes, while fully adhering to ACCA (Association of Chartered Certified Accountants) standards. This means having both an efficient client onboarding and periodic client reviews set up. It was very important to be efficient, fully compliant and to have a seamless integration identification and verification of ultimate beneficial owners (UBOs) and directors.
In just one week, Atfinity provided the clients with a tailored KYC/KYB platform that integrates ACCA standards and specific requirements.
Instead of a manual and labour-intensive assessment of the relationship, the platform gave their users guided wizards to collect and review all necessary information. These wizards included three important pillars:
1. Fast Implementation: Our client was able to start their first productive onboarding process just weeks after first contacting us.
2. Efficient Processes: Onboarding and review times were reduced by more than half.
3. ACCA compliant: Even though the process was more efficient and streamlined the ACCA's guidelines were fully adhered to.
4. Enhanced Customer Experience: 2+2 verification for UBOs and directors means that no or very little manual data input is necessary.