Mitigating Systemic New Client and KYC Risk

A multinational finance company partnered with ZENDA to consolidate required KYC checks by streamlining the customer onboarding process. The result was a rules-based, connected data solution that integrates pre-filled data to decrease manual entry, mitigate operational risk, and accelerate execution.

75%

reduction in tools required

$1.25B

mitigation of AML compliance fine risk

25

use cases captured

Solution

By conducting and leveraging in-depth alignment sessions with 150 stakeholders, ZENDA transformed the advisor’s end-to-end experience for global onboarding. Our team partnered with business and technology partners across 5 workstreams to address different phases of onboarding. ZENDA configured a process that integrates existing tools with optimized work processing that consolidates required checks into a single flow and stems AML risk.

Result

By capturing 25 use cases and creating a unified onboarding platform for proper KYC checks, ZENDA reduced the required tools needed to complete onboarding by 75%, while mitigating up to $1.25B in AML compliance risk.