Know Your Customer

Know Your Customer

Become acquainted with and stay in the know about your clients, their relationships, and important issues
Current Situation

Sustainable businesses require stable, reliable and trusted client relationships. The wrong partners can cause reputational, legal, or compliance risks. The subjective assessment of “good clients” does not suffice - a standardized, objective, and regularly updated customer assessment which includes quantitative and qualitative information is essential to maintain reliable and compliant operations.

Objective:

Create semantic data lakes connecting any relevant information on customers and prospects

How CID can support:
  • Gather quantitative data from internal sources as well as external data providers such as credit agencies or financial data providers (e.g., company ownership information)
  • Capture qualitative information such as news on activities, investments, or changes in someone’s personal situation
  • Enrich information about company relationships, ownership structures, or sanctions
Objective:

Monitor news, filings, or publications related to corporates, key stakeholders, and (Ultra) High Net Worth Individuals

How CID can support:
  • Detect relevant signals and issues (e.g. company sale, law suit, top executive appointment or retirement)
  • Assess client exposure to the public
  • Evaluate impact on the bank
Objective:

Derive and provide comprehensive information on individuals, companies, and communities

How CID can support:
  • Access important background information to evaluate customer situations, relationships, and issues
  • Inform and automate business processes and on-boarding workflows with augmented intelligence
  • Maintain an up-to-date knowledge graph on clients and their connections
Objective:
How CID can support:
Objective:
How CID can support:
Objective:
How CID can support:
How Banks Benefit

Establish a trusted source of client information that includes quantitative and qualitative information. Keep up-to-date on client-related issues and events. Automate on-boarding processes and push important alerts to relationship managers.

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