Better transparency on customers, a faster onboarding process, high auditability: These are the goals of the KfW Group, an international banking group, for its compliance environment. The automation of compliance functions, a central database, and an interface between front and back-office enabled the Group to achieve these goals.
Efficient client onboarding in banking
KfW Group has 4.5 million customers and offers 4,000 financing products. The entire client onboarding department needs to be able to work as efficiently as possible with only 8 people. KfW sees potential for increasing efficiency in a number of ways, such as:
Automated lead processes
Ad-hoc reporting for auditing
Continuous risk assessment
To find out how this international bank implements the measures, read the success story.