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…
HBL is a bank based in London (UK) and a subsidiary of a Pakistani bank. It offers a very wide range of services to both UK and non-UK clients.
For onboarding, KYC and KYB, our client relied heavily on manual work. This means that each new, but also each existing client, required a lot of work, ultimately causing HBL's compliance teams to struggle with keeping up with the entire workload. Additionally, they aspired to have a better process automation tool that makes sure approval flows happen in a reliable and predictable way without typical human errors.
We digitalised the entire onboarding journey:
In addition, and thanks to our modular no-code platform, we also created fully digital review workflows that share rules as much as possible with the onboarding journey. For example, only one set of KYC / KYB documents needs to be maintained in Atfinity.
HBL was able to get back to levels where they don't have to build up huge teams, but fulfil the high regulatory requirements with the current team size.
Their KYC/KYB/AML framework is also mostly automated and predictable, so it's much easier for them to prove to auditors that they fulfil regulatory requirements.