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The Company: Our client is a fast-growing specialist debt financing firm for European investors, thereby subject to EU regulations regarding compliance with a need for an online system aligned with their company strategy.

Problem: The client was looking to partner with a vendor possessing in-depth knowledge in the KYC/AML area.

The key challenges faced by the customer included:
1) A growing and varied client base, including both corporate entities and SMEs;
2) A commitment to a decision on financing in less than 48 hours.  This requirement was further complicated by a desire to maintain the existing compliance headcount.

Action: Through a series of workshops, Know Your Customer identified the customer’s specific requirements to integrate an online KYC/AML function into the customer online onboarding process.  Working with a strict priority list of objectives and a fixed timeline for deliverables, the client was able to integrate Know Your Customer’s functionalities within their online application form through Rest APIs. The integration included seamless AML screening of all applicants against international watch lists and local jurisdictional datasets, and forensic level ID forgery and counterfeiting detection. The described approach enabled the customer to confidently approve clients within their advertised timeframe, while recording all compliance steps in an immutable audit trail in accordance with regulatory obligations.

Result: Know Your Customer provided near real-time KYC/AML & on-going client due diligence, immediately solving the customers’ biggest needs:
1) A comprehensive and easy-to-use KYC case management solution
2) In-house configuration capability for total control, eliminating the need for additional development efforts for changes.

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Last updated on April 17th, 2023 at 01:39 am

Maggie Maspero

Margherita Maspero is a marketing expert with ten years of experience in marketing strategy and brand development at international RegTech companies across Europe and Asia. Prior to joining Know Your Customer, Margherita held various positions building brands and driving commercial growth through effective marketing strategies at fast-growing B2B start-ups and scale-ups in London, Dublin and Milan. A graduate of the University of Milan, Margherita holds a Master’s from University College London (UCL).