Case study
Improving client onboarding for a German Banking Group
Managed Services and Client Onboarding
We successfully partnered with a German Banking Group to create a standalone document repository and workflow system to improve client onboarding. Deployed across multiple departments, this web application streamlined the capture of new clients and reinforced KYC onboarding practices. With enhanced case management, early client verification, and AML compliance, the project reduced onboarding cycle times and lowered the total cost of ownership.
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Project overview
CubeMatch was hired by a German Banking Group to build a standalone document repository with an associated workflow, to manage Client Onboarding. The system was deployed across the London Investment Bank and the German Relationship Management Desk; and is now used across Sales, Customer Care, International Desk, Middle Office, Back Office, and Finance. The web application runs on the banks intranet and was built from the ground up to both aid the capture of new clients and solidify KYC onboarding practices at the bank.
// Objectives
Our client, a German Banking Group, approached us as they primarily needed help to build a standalone document repository with an associated workflow, to manage Client Onboarding. The client also needed us to build a web application running on their intranet to aid the capture of new clients and solidify KYC onboarding practices at the bank.
// Solutions
CubeMatch provided a team of business analysts who captured processes and workflows with business users in sales and middle office to gain a clear operational understanding of client onboarding. Agile methodology was used to produce functional specifications assigned to the development team. Our consultants added on modules for document repository and compliance questioning. They also introduced standardised compliance workflows.
The web application testing phase was very thorough – rigorous technical tests, Business Analyst Functional, Regression, and Usability testing were carried. The testing phase was successfully competed and after business sign-off, the application went into production.
// Outcomes
CubeMatch successfully delivered a configurable workflow management with realised reductions in the total cost of ownership. Our team of experts established highly efficient processes for case management, alert management, and report building. They also enhanced client documentation and report generation. This project also allowed our client to benefit from early client verification, end-to-end onboarding cycle time reduction, stronger AML practices and minimisation of Risk aiding group-wide compliance.
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