Development of a Secure Digital Onboarding and Compliance Management Platform for Financial Services

The client faces complex regulatory requirements and shifting global standards that complicate customer onboarding, risk assessment, and ongoing compliance. They require a platform that balances user-friendly onboarding, real-time customer verification, and comprehensive compliance checks, all while maintaining high levels of security and auditability.

A mid-sized financial institution specializing in trade finance and compliance solutions, seeking to streamline onboarding and due diligence processes.

• Implement an integrated customer onboarding platform with automated KYC/AML verification and risk assessment features.
• Enable sanction screening against watchlists, PEPs, and adverse media for enhanced due diligence.
• Provide an internal case and task management system for tracking onboarding, review flags, periodic updates, and finance applications.
• Ensure an auditable record of all customer interactions, verifications, and compliance decisions.
• Achieve scalable and secure architecture capable of handling high volumes of customer data and compliance checks.

• Customer Verification Module: Integration of identity verification through video identity checks, document authentication, biometric screening, and risk profiling based on customer data.
• Sanction and AML Screening: Automated screening against international sanction watchlists, PEPs, and adverse media sources, with risk scoring mechanisms.
• Case and Task Management: An end-to-end system to create, assign, update, and audit customer cases and related compliance tasks, including notes, outcomes, and communication records.
• Compliance Workflow Automation: Streamlined processes for onboarding, periodic reviews, flagging cases, and managing finance-related applications with tracking and internal notifications.
• Audit and Reporting Tools: Secure and comprehensive audit trails for all operations, supporting regulatory reporting and internal review processes.

• KYC/AML verification services
• Sanction watchlist and PEP screening providers
• Adverse media monitoring APIs
• Internal case and task management databases
• Audit logging and reporting systems

• Scalable infrastructure supporting high volumes of customer data and checks
• Compliance with data privacy laws and industry regulations
• High availability and system uptime (e.g., 99.9%)
• Secure data encryption at rest and in transit
• User role-based access control and audit trails

The implementation of this platform is expected to significantly streamline customer onboarding and compliance workflows, reducing onboarding time by approximately 30%, improving risk scoring accuracy, and ensuring continuous adherence to evolving regulatory standards. Additionally, it will enhance auditability and internal tracking, improving regulatory reporting and reducing compliance-related risks.