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Enhancing Onboarding, KYC/KYB Efficiency for a UK-based FX Broker
Our Client
Our client is a UK-based FX broker providing a diverse range of foreign exchange products to SMEs and institutional clients. They faced two significant challenges in achieving their growth objectives.
Firstly, they desired to expand their clientele rapidly but were restricted by the amount of people that could increase in their operations and onboarding team.
Secondly, their current customer onboarding process, involving the use of Excel sheets, resulted in a less than ideal user experience for potential clients. For IT security reasons, they prefer to remain anonymous.
Our Solution
In just 21 days, our experienced team of solution configurators implemented a comprehensive
end-to-end onboarding system to enhance operational efficiency and improve the client experience.
The solution includes the following:
- To avoid stretching their limited resources, they chose our fully-managed secure cloud solution.
- The digital processes followed very closely the existing requirements to keep training absolutely minimal.
- The fully guided new onboarding journey with full KYC/KYB ensures accurate fact-finding, background checks, and, if necessary, approvals are given.
- Now, the whole process is done in a single tool, streamlining the team's communication about individual cases.
Highlights
1. Initial solution delivered within just 21 days
2. Little expertise in solution design and technical aspects needed from the client since using our fully-managed cloud solution
3. Full KYC/KYB compliance covering all required checks
4. Members of the operations team were productive from the very first day