ELASTECH: FinTech App Development Services – Accelerated client Onboarding from Weeks to Hours
Balancing customer service with “Know Your Customer” (KYC) and Anti-money Laundering (AML) regulations
A myriad of complex domestic and international regulations makes it difficult and time-consuming for high-net worth individuals to establish new financial services relationships. People who wanted to sign up for such services had to undergo a variety of checks and verifications. This often led to frustration and anger. A good customer relationship was thus jeopardized from the very beginning. This client approached ELASTECH with a project to create a faster, more efficient due diligence and transaction monitoring system to enable high net worth individuals to move their assets with minimal time and energy.
This cloud based solution allows the financial services company to reduce a 30-40 day asset migration process down to a few hours.
The new applications allowed the financial services company to reduce a 30-40 day asset migration process down to a few hours. Another positive outcome was the reduction of customer acquisition costs up to 80% due to the help of automated due diligence.
- Financial Services
- Cloud (GCP)
- Fintech App Development
- Google BigQuery
- Robotic Process Automation (RPA)
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