Know Your Customer (KYC)

Financial institutions are required to conduct background checks for all their prospects and existing clients. They have to verify the client's identity and assess if this business relationship represents a risk. This process is called Know Your Customer (KYC)

EXISTING PAIN POINTS

• Most financial institutions run KYC analysis manually.
• In large investment firms, a risk analyst can spend up to a month investigating a single institutional client.
• Existing solutions are expensive and rigid.

GOALS

Show our clients our problem-solving skills and domain expertise.
Leverage our in-house solutions and tech partnership capabilities.
Help the company to drive sells and engage new clients by showing instead of selling.

PROBLEM STATEMENT

How may we provide an out-of-the-box solution that streamlines the KYC process and that can be easily integrated to our clients existing systems?

PRIMARY USER

KYC Analyst
• Compile necessary documentation from the prospect client.
• Analyze several documents and publicly available sources related to the client.
• Detect potential risks and validate its accuracy.
• Generate risk report with supporting documentation

SECONDARY USERS

Institutional Client
• Request financial service.
• Provide required information and supporting documentation.

Account Manager
• Onboard prospect client and request KYC analysis.
• Follow up KYC process.
• Review final risk report and approve or reject prospect client.

PROOF OF VALUE

We create an explainer video using our personas, scenarios, and journeys. We needed to combine the interface with animations that explain how the solution works from a technical standpoint.

Password: KYC

(*Please note that these are mockups with place-holder information. The real information cannot be displayed for privacy reasons.)

MY ROLE

Product Designer & Animator

OPPORTUNITIES TO IMPROVE

• Explore the responsiveness of the application in different devices.
• Explore further how this tool forms part of the user already-existing workflow.
• The header with the client information could be a hidden tab. It currently takes a large portion of the screen's real estate.
• Explore other ways to visualize the data.
• Make sure that the colors and icons remain consistent .
• Explore more intuitive ways to debrief the final KYC analysis and data sources