Introducing the New Account Connect
Account Connect Solution is an integrated business process application for the end to end onboarding of consumer and high net worth clients that :
- is designed to use 'as banking employees work'
- promotes an improved customer experience 'First impressions count'
- is a front to back solution that also reduces onboarding risk, while ensuring compliant behavior throughout
- needs minimal manual intervention and maximizes efficiency
- directs resources where the risk is greatest, without ignoring low risk areas
Inherent in Account Connect solution, are system functionalities that include:
- End to End onboarding process execution and governance
- Full and logical data capture including Customer details (Basic, Contact, Employment, Existing Accounts, KYC) stakeholder details, segmentation details (High value customer, Gold, etc.), customer signature capture and more.
- Identification, assessment and reviews of Politically Exposed Persons 'PEP'
- AML checks and integration to external AML systems
- Automated FATCA profiling with report generation
- Ability to add and capture details around multiple account types including current, fixed deposit and joint accounts.
- Ability to link accounts.
- Checker functionality including presentation of unusual features for a specific client profile, CIF duplication, data audit and customer and account details, FATCA information and associated documents.
- Staged, rules based approval escalation associated with all pertinent profile variables.
- Automated CIF and Account Creation
- Card Creation and Issuance
- End of day compliance check(s) to include data, documents, and signatures.
- Ability to identify customers by numerous methods– including name, passport number, National ID, CIF, signature capture or other. More so, ability to view customer accounts by relationship.
- Fully configurable and modifiable maker/checker approval processes– aligned with rules governing client profile content, product offerings, integrated information from external systems (CBS, AML, Fraud, Scoring) risk assessment and commercial and regulatory policies.
- Automated and standardized document creation and archiving
- Full integration with all critical back end systems – (CBS, AML, Scoring, CRM, DM, Other)
- Compliance focused functionality– including full audit trail of all actions performed by users, configurable and/or rights based access to information or information views, rights or role based modifications and approval levels and more. The system also keeps record of all data changes and integration calls, the requests and responses from each, as well as the errors returned by external systems if case.
- Advanced Operational Analytics– for real time assessment of roadblocks and bottlenecks in onboarding activities, setting and measuring performance KPI's by stage, role or individual and even intervening in the system process for the purpose of operational smoothing.