Synechron

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USE CASE

Automated Client Lifecycle Management (CLM) for KYC

 

Situation
Financial Institutions are required to have their KYC files in order in an ever-changing world revolving around changes in regulations, internal policies and client expectations. Furthermore, financial institutions invest a lot of manual effort in remediation to assure KYC compliance.

Solution

  • Automate the repetitive, rule-driven work and allow financial institutions to focus on non-compliant files.
  • Facilitate quick insight in KYC compliancy when regulations and policies change.
  • Re-train algorithms if rules change and get results quick.

Benefits

  • Increased customer satisfaction
  • Faster fulfillment time (<20 minutes)
  • Data integrity improved by 60%
  • Reduced error margin (80%)
  • Targeted customer marketing with personalized message and offers

To learn more about Synechron’s KYC Remediation Accelerator for financial services and the work we’re doing email us at finlabs@synechron.com