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.Â
- 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.Â
- 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.Â
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.

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Within client needs, we customized a set of instructions for Gleematic to follow.

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Gleematic extracted the required records and details, such as bank data files and registered data files.

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The extracted details are automatically typed in Excel. Then, it ran a short search to see if there were any inconsistencies.

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The submissions were finalized and changes were closed after receiving consent from the client committee.

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Gleematic inspected the reconciling objects and corrected any mistakes.

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Data were compared at the transaction stage to identify any anomalies.
Results
Degree of Robotization: 75% Effort Automated
ROI: 3 Months
Human Error Rate Reduced
Manual Effort Reduction to 75%
Faster Processing Time: Reduction of 65%
More Standardization
High-Quality Improvement
No More Repetitive Administration

