Our Outsourced Services
Idenfo offered its services to one of the largest banks in the Middle East. The bank has a global footprint spanning five continents and offers an extensive set of products and services to its customers. However continually evolving national and international KYC requirements put a strain on the bank’s already crowded and packed KYC workflow and systems. A backlog of some 25,000 SME customers’ KYC requirements fulfilment had built up and this was not acceptable to the high standards of the bank.
After initial sessions with the bank’s internal team to assess project delivery timelines and set an operating rhythm, Idenfo offered the bank an additional team of Compliance specialists, while also providing advisory services to work on reducing the remediation population. An agile approach was then adopted to ensure the most high-risk customers were remediated first.
The Idenfo team:
specialist resources for over 12 months.
• Divided the project into phases to tackle customers on a
Business Coordination and Project Management including
active participation in weekly Steering Committees to
discuss MIS and issues