Accelerating your investor onboarding process
Challenge: A non-bank lender offering investment solutions in Credit, Real Estate, and Private Equity markets, for institutions and wealthy families globally, onboards several sophisticated investors per week. The Investment Operations team (knowledge workers) have to manually review multiple know your customer (KYC) PDF and image documents, extracting relevant identification data and then performing 3rd party politically exposed person (PEP) system checks via 3rd party systems. Once the identification KYC data and PEP checks have been verified, the data needs to be manually loaded into a system of record (registry)
Solution: Lassio AIM (automated intelligence) platform has been implemented within the client environment (Azure), creating a digital worker and an AI agent that works alongside the knowledge worker team, performing the following tasks:
- monitoring a MSFT email inbox for any new investor onboards coming in
- setting up a folder structure within Share-point for every new investor profile
- running the KYC documents through a private AI engine, extracting the key semi-structured identification data points
- taking the data points and doing a comparison verification check of identity and contract details alignment, presented back in a traffic light summary (using a private AI engine)
- connecting to a 3rd party system provider and performing a politically exposed person (PEP) check, using robotic process automation (RPA) technology
- Combining all the above information into a hyper-structured dataset format that is presented in excel (CSV) format which the knowledge worker verifies before getting automatically ingested into the client system of record (registry)
Business Value
Current savings: 1-2 hours per new investor onboarding.
The business ROI is also based on three key areas:
- improve the quality of data being ingested into the system of record
- ability to scale, whilst maintaining OpEx
- attracting digitally native talent and contingency planning.