Cognitive Automation
for KYC (Know-Your-Customer) Process

Reduces running costs and errors simultaneously.

Description of Problem

Checking black lists: When generating blacklist results on customers, bank officers have to include inputs from another data source and go through different selections on the banking system.
Remittance review: A lot of effort is required to ensure that the funds are checked and sent correctly to the recipient’s account before posting the associated report to the in-house system. There were many reports to process and the human error rate can be high due to the eye-balling effort required.
Decrypt, edit and encrypt documents to be sent out: The bank’s staff have to go through tedious steps of decrypting hundreds of documents individually on a daily basis. After that, these documents had to be edited with information coming from another source. The edited documents are re-encrypted subsequently to be emailed out to end customers.

Client Overview:

Headquartered in an ASEAN country, this banking client provides services to clients across the Asian region and major global financial centres.

Industry:

Banking

Processes Type:

KYC (Know Your Customer)

How Gleematic Helps

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Gleematic was able to log on to various external portals automatically to do the KYC checks (e.g. Factiva).

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Gleematic was also able to extract data from other I.T. applications used by the bank and enter the desired fields automatically on the KYC portal. The data can be from PDF or Excel too.

The outcomes of the KYC checks were then automatically entered into the legacy system (e.g. AS400, Silverlake) by Gleematic.

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The final encrypted documents were then automatically uploaded and an emailed to the relevant parties as stated in the documents.

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Gleematic was able to open encrypted documents by entering the decryption password. Gleematic was also able to edit the document with information from other data sources and automatically encrypt the document again with the same password.

Gleematic could automatically verify accuracy of reports by checking against a different system. The details of the linked reports are then automatically entered into their final system by Gleematic with high accuracy.