Atfinity: Software for KYC/KYB/AML and client onboardings

We are very happy to say that Atfinity's innovative solution for onboarding has been recognised at the WealthBriefing European Awards 2024. Atfinity won in  the category "Onboarding", recognised as the best onboarding system for the European wealth management market. Our platform has been singled out by the judging panel for its revolutionary approach to process automation. Led by our AI-based rule engine and our rich suite of features, Atfinity facilitates and speeds up #onboarding processes for all of its users. We are honoured to win this prestigious award, and look forward to bringing our solution to more organisations in need of #automation. Learn more about Atfinity's recent win in our blog: https://lnkd.in/dgqD9CAQ

A big reason why organisations struggle with #compliance is because they rely way too much on manual work. This creates two big problems: 🔸 Increased risk of human error and potential fines 🔸 Inability to service all clients efficiently One of our recent clients, HBL UK, had a similar problem; too much manual work caused their compliance team to struggle with the workload. They needed a tool to streamline workflows and reduce the risk of errors. Atfinity: Software for KYC/KYB/AML and client onboardings was the perfect tool for what they needed to do! Learn more about HBL’s reduced manual work for client onboardings, KYC, KYB, and reviews in our case study: https://lnkd.in/gyFPKyy2

Can you easily obtain information on individuals and entities that you do business with? If not, know that this can be much simpler, faster and smoother if you use Atfinity. We connect to third-party providers for #AML and #KYC, and our guided workflows facilitate data collection for checking all ownership structures, including Beneficial Owners and Ultimate Beneficial Owners.

Atfinity is happy to announce a new partnership, with SaaScada, aiming to modernise the #banking industry and offer a faster and more agile tech stack. SaaScada is a disruptive player in the financial landscape, offering a different, leaner way to core banking. They focused on a modern API-first approach, making it easier for banks to build out best-of-breed integrations to optimise user journeys. This, of course, means that banks can build amazing #onboarding journeys starting in Atfinity and then seamlessly push data into SaaScada. Indeed, our first joint client is soon going live with a very elaborate end-to-end onboarding journey that uses Atfinity and SaaScada; and it only took three months to build from idea to productive software! Read the full announcement to see how our newly-forged partnership can pave the way for your business towards the future of banking: https://lnkd.in/eANbt7ff

What should a good #onboarding journey for banks include? Here are five essential aspects: 1️⃣ Compliance checks Thorough #compliance checks should help ensure the customers meet all regulatory requirements, such as anti-money laundering (AML) and Know Your Customer (KYC) checks. 2️⃣ Security measures Customer data must be protected to ensure a secure and stress-free onboarding experience; this includes encryption, authentication protocols, and best cybersecurity practices. 3️⃣ Clear communication Customers should understand clearly what documents are needed, what steps will be taken, and what the expected timelines are. 4️⃣ Personalised experience The onboarding journey should be tailored to each customer's needs and preferences; they should be guided throughout the process. 5️⃣ Digital accessibility The process should be very convenient for customers, allowing them to easily submit documents and complete necessary forms online if they want to. Incorporating these five elements will allow banks to create a positive and seamless onboarding experience for their customers. In turn, it will foster trust, customer satisfaction, and brand loyalty. Atfinity can meet all of the above, facilitating your digital journeys and improving your workflows through #automation. Our platform helps you become faster, more efficient and compliant!

If you struggle with #compliance and the overwhelming workload that goes with it, simply hiring more people won’t solve your problem. I mean, provided that you can afford to hire, because many organisations have limited budgets and cannot consider getting extra staff. So, what to do in this situation? The first thing is to realise that – even with more people on board – you will continue to struggle if you keep everything manual. Because it’s the manual processes that slow you down and run the risk of human error. So, technically, more people could mean a bit more speed, but the overall problem remains: How to ensure compliance and reduce the risk of error? The best and, by far, most cost-effective way to do this is through #automation. If you opt for a tool that can effectively automate your workflows, you will 1) stay compliant, 2) become faster, and 3) increase your productivity. All of that without having to hire dozens of people to manage the workload.

Benefits of #automating in Atfinity: Client Lifecycle Management and Perpetual KYC/KYB/AML Our platform allows continuous monitoring and review of clients, transactions, and changes in circumstances, to meet all compliance requirements. Additionally, users can repurpose review rules to create digital onboarding journeys, resulting in more efficient and user-friendly processes. https://lnkd.in/d-7-qGsu

Did you know❓Atfinity allows you to have fully automated processes in record time, and here's how: ▶️ Based on your forms, checklists and other requirements, we can deliver a proof-of-concept configuration in just a week. ▶️ You can try it out, see how it works and how it fits the specific needs of your organisation. ▶️ After we agree on the general direction, our #configuration team will start to develop your full, customised solution. We help you become faster and more efficient!

One of the most important areas that banks and #financial institutions need to automate is #compliance. But a big problem here is that banks are probably a little bit behind with the way that their software works. Banks were far ahead in the 60s and 70s; they developed their own internet, way before that was a thing, to transfer money. It was an amazing achievement, but there has not been so much innovation following this. The industry as a whole has fallen behind in digital and innovation. It could also be that banks kinda rested on their success and forgot to innovate.  Today, there’s a huge gap between what the industry does and what is possible. On one side, there are neobanks coming up and doing amazing #onboarding processes, and gaining traction – and then there are traditional banks doing things the old way. That’s why it’s essential to keep pace with the new advancements; this is a first-rate strategic decision.

Simplify complicated and time-consuming tasks, for better #onboarding and #compliance!