Regulatory changes meant Deutsche Bank needed a more consistent and scalable review process for conducting financial counterparty KYC. This included creating a central repository for data and documentation for all its global locations to use, reducing the number of requests made to clients, and making KYC reviews faster and more efficient.
Using the Bankers Almanac Risk & Compliance suite of solutions, Deutsche Bank’s team of over 200 users achieved:
- Increased efficiency – Deutsche Bank has been able to speed up and improve the accuracy of decision-making at scale by having access to consistent information across the group.
- Accurate ownership identification – Bankers Almanac Ultimate Beneficial Ownership now provides Deutsche Bank with proof documentation that is certified and sourced directly from financial institutions.
- Improved customer experience – Sourcing information directly from Bankers Almanac has reduced the burden on Deutsche Bank’s clients and streamlined their experience, by providing 90% of the data the bank needs for client verification.
Read the case study to learn how we helped Deutsche Bank to achieve these results.