Client Background
A global multi-national banking and financial services company with an extensive presence across the UK, Europe, Africa, the Middle East, and Asia/APAC. They provide a wide range of services, including Consumer, Corporate, Institutional Banking, and Treasury services.
Client Need
- Automating the Risk Assessment (RA) process to improve efficiency.
- Dealing with multiple RA processes and technology platforms operating independently in different countries.
- Coping with frequent changes in government regulations, resulting in delays and confusion during the onboarding process.
- Addressing issues of duplication, inaccuracies, and confusion within the existing workflow.
Our Solution
- Conducted an in-depth analysis of the existing business processes to identify areas for improvement and automation.
- Focused on reducing the overall onboarding time and minimizing application changes required for customers in different countries.
- Empowered business users to apply rules and validations according to government regulations without IT involvement.
- Proposed a Pega BPM/Case Management-based workflow solution for automating the Risk Assessment process.
- Implemented the Pega situational layer cake (SLC) architecture to align the Risk Assessment process with specific country-level requirements.
- Developed an integration layer using Customer Decision Hub (CDH) to consolidate multiple credit rating systems (FATCA, NORKOM) for analyzing customer Risk Assessment levels.
- Created a recommendation engine to facilitate the onboarding or rejection of new customers based on their creditworthiness.
Tools & Technologies
Pega DPA, Pega CDH, PRPC, Pega On-boarding, KYC Solution, Java/JEE, Spring Framework
Key Benefits
- 90% reduction in customer response time, from days to hours.
- 99% decrease in errors resulting from manual data entry.
- 40% reduction in the overall customer onboarding process time.
- Empowering business users to make application changes without the need for redeployment, increasing agility and efficiency.
