Compliance digitalization with Appway

• KYC
• KYT
• CRR
• Compliance
• Banking
• Client onboarding
• FINMA
• Appway

Key Challenges

Our client is a Swiss public bank and member of a network of 24 cantonal banks. Listed on the Swiss stock exchange, it is an important player recognized internationally.

In order to implement its compliance procedures, this bank requested the services of our DPA (Digital Processes Automation) / Appway experts.

A client onboarding within a bank has indded to be done according to specific procedures and controls which are also checked by some financial market supervisor as FINMA.

With this in mind, our client was looking to :

• Collect information prescribed by law and regulations as well as those related to the agreed services and the relationship monitoring
• Monitor and update the collected data
• Meet regulatory compliance requirements
  • Due diligence obligations
  • Obligation arising from international taxation

Our approach

To meet our client’s needs, our teams of Appway experts had to:

• Challenge it needs on the defined requirement in order to define the most complete and appropriate solution
• Find out how the collected data can be processed and stored
• Propose a few process variants for :
  • Gather the Client data (KYC/KYT data)
  • Review the Client Risk (CRR – escalation)
• Develop the solution according to a methodology implemented with the client
• Make evolution according to client feedbacks

Benefits

All these achievements, spread over a period of 14 months have enabled to meet the initial challenges of our client, allowing them to:

• Less time and effort for collaborators
• Easier to report to the financial market supervisors or the Federation
• A flexible solution to change :
  • Change of laws and other obligations

Our client can therefore face the challenges related to compliance and transparency needs, effectively manage its customers’ data, cope with frequent changes in regulations, and allow all its employees involved to benefit from an adapted and tailored solution.

Profiles Involved

To realize this project, we involved our Appway experts:

• 1 Delivery Manager
• 1 Buisness Analyst
• 1-2 Developer(s)

Technologies & Partners

Discover our Hyperautomation and Digital Processes Automation (DPA) services.

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Author

Lionel Otabo