Profile picture for user ma.santos
Submitted by ma.santos on Tue, 06/29/2021 - 14:24
Listing Image
Industry
Section
Main Content

A leading European bank approached us with a request to help them comply with KYC regulations in five countries across Europe. They needed a partner they could trust to contact and verify all customers flagged as low or medium risk across 5 countries and languages and conduct ongoing due diligence to ensure KYC procedures are followed when onboarding customers

The challenge

The client had a high visibility regulatory requirement to retroactively conduct KYC processes within 12 months including:

Identification of customers across 5 countries and languages 

Establishing contacts with a large number of customers across corporate and retail customers

Collection of missing KYC data and documents

Follow-up as needed to obtain incomplete/incorrect information

 

Transcom’s solution

Transcom created a time-bound project and drove the realization from a data gap analysis to successful remediation through a five-step program.

Step 1: Leading data gap analysis methods

Step 2: Client outreach

Step 3: Industry-leading collection and validation

Step 4: Regulatory form completion 

Step 5: Successful remediation

 

The outcome

Transcom’s unique Nordic footprint of CX and KYC specialists allowed for a ramp-up of 260+ FTEs across 5 countries and languages in 7 months. We managed to deliver 60,000 KYC refreshes along with:

  1. Full compliance with KYC regulations and no penalties
  2. High-efficiency operations
  3. Verification of KYC status across customer base
  4. Action taken across low activity accounts
  5. Outstanding CX rating
Let's start something brilliant.
Call to Action
Title Alignment
Right Offset
Module Theme
Transcom Yellow
Type
Tertiary