Automating KYC and onboarding processes

Lean compliance management in banking                                         

KfW Group accelerates customer profiling and onboarding by centralizing compliance applications

The new compliance environment enables KfW Group to achieve more efficient KYC and onboarding processes for banking customers. Automation affects several areas: 

  • Automated lead process 

  • Digitalized workflows  

  • Ad-hoc reporting for auditing  

  • Continuous risk assessment

The target of automizing compliance is to process customer inquiries safely and efficiently from a compliance point of view. Dirk Hahn, Senior Consultant Regulatory Law/Know Your Customer (KYC) explains why this is so important for KfW:  We have 4.5 million customers and more than 4,000 products in use, and we operate in virtually every country. The entire client onboarding department consists of eight people. That is very lean in terms of efficiency.“ 

Learn how KfW manages continuous improvement of digitalization.