End-to-End Digital KYC/AML
Pan-Asian Commodity Trading Company
The company: Singapore-based company specialising in best practice advisory and consulting for the commodity markets. The client’s advisory services cover a full range of business disciplines, including Investment & Trading Advisory and Market & Risk Consulting.
Problem: The client was looking for an effective solution to satisfy the regulatory requirements necessary to expand their offering to additional jurisdictions in the Asian region. In particular, they were looking for comprehensive KYC/AML coverage as well as a focused approach to automating the KYC process for corporate entities. The client approached KYC because of our specific knowledge of the regional regulations and the capabilities of our solution.
Action: KYC offered the client a dynamic approach to KYC/AML, which centralises all related elements into one solution – document capture and storage, ID verification, Risk Screening, and more. It was then agreed to proceed with a phased implementation, starting with an in-depth kick-off workshop to build a complete project mapping overview. After the approval of all concept sketches and wireframes, development began.
Result: KYC delivered a fully operative and customer-configured virtual compliance desk to monitor clients’ cases on an on-going basis. This provided the client with the confidence to quickly expand into new jurisdictions thanks to KYC’s regulatory requirements automatically mapped into their new system. The solution also featured an API integration with the client’s customer database to optimise compliance officers’ workflow and increase productivity, as well as a branded web portal with personalised customer-facing messaging for seamless user experience.