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Development of a Whitelabel SaaS KYC Platform for Automated Due Diligence and Risk Assessment

light-it.net

Financial services

Information technology

Business services

Challenges in Manual Due Diligence Processes

Financial institutions face significant operational inefficiencies due to manual, paper-based due diligence workflows. These processes require excessive time and resources, increase error rates, hinder regulatory compliance, and delay decision-making for client onboarding and risk management.

About the Client

A rapidly growing EU-based software vendor specializing in KYC/AML compliance tools for financial institutions, operating across six European countries.

Objectives for the KYC Platform Development

Automate customer validation and risk assessment workflows
Ensure full AML/CFT & KYC regulatory compliance
Provide 24/7 access to validated client data
Enhance reporting capabilities with risk-level sorting
Enable seamless integration with existing client databases

Core System Functionalities

Automated document validation and data extraction
Real-time risk level calculation based on client data
Multi-format reporting with six sorting patterns
Secure client dashboard with status tracking
Two-factor authentication and encrypted communication

Technology Stack Requirements

Angular

Java

Python

PostgreSQL

MongoDB

RabbitMQ

System Integration Needs

Existing client CRM systems
Regulatory compliance databases
Third-party identity verification services
Cloud infrastructure (AWS/Azure)

Non-Functional Requirements

Enterprise-grade data encryption
Horizontal scalability for EU-wide operations
99.9% system uptime SLA
Real-time processing performance (<2s response)
GDPR compliance for data handling

Expected Business Impact of the KYC Platform

The solution will reduce client onboarding time by 70%, enable compliance with evolving regulatory standards, and support expansion into new EU markets. Financial institutions will achieve 24/7 operational efficiency, reduce manual errors by 90%, and gain actionable insights through automated risk assessments, positioning the client as a market leader in Fintech compliance solutions.