Every new account needs documents checked, sanctions screened and your KYC rules applied. The agent does the checks in minutes and passes higher risk cases to compliance with everything prepared.
Linbetta can help you implement this(A) The problem
Applications stall while staff check documents by hand and re-key details into core banking, so good customers wait and some walk away.
(B) How the agent works
The agent prepares. A person decides. Nothing important happens without your team.
- Agent
Agent reads the application and scanned documents from branch or digital channels
- Agent
Agent checks they are complete and consistent, and screens the customer against sanctions and PEP lists
- Agent
Agent applies your KYC rules and prepares the account set up
- A person decides
A compliance officer approves exceptions and higher risk customers
- Agent
Agent opens the account in your core banking system, informs the customer and tracks each case
(C) What it could save
3,000 applications a month, 20 minutes saved on each, frees about 1,000 hours a month.
That is about £30,000 a month, or £360,000 a year, at £30 an hour. Try your own numbers:
Illustrative figures. We agree real ones with you at the start, based on your own volumes.
(D) Account Opening and KYC Agent questions
What does the Account Opening and KYC Agent do?
Checks new customers and opens accounts in hours, not days. Every new account needs documents checked, sanctions screened and your KYC rules applied. The agent does the checks in minutes and passes higher risk cases to compliance with everything prepared.
How does the Account Opening and KYC Agent work?
It follows five steps: 1. Agent reads the application and scanned documents from branch or digital channels 2. Agent checks they are complete and consistent, and screens the customer against sanctions and PEP lists 3. Agent applies your KYC rules and prepares the account set up 4. A compliance officer approves exceptions and higher risk customers 5. Agent opens the account in your core banking system, informs the customer and tracks each case A compliance officer approves exceptions and higher risk customers is the step where a person decides.
Does the Account Opening and KYC Agent replace staff?
No. The agent handles the checking, matching and chasing (agent reads the application and scanned documents from branch or digital channels, for example), and a person makes the decision at the key step: a compliance officer approves exceptions and higher risk customers. Your team spends less time on admin and more on the cases that need judgement.
How much could the Account Opening and KYC Agent save?
As an illustration, 3,000 applications a month with 20 minutes saved on each frees about 1,000 hours a month, worth about £30,000 a month or £360,000 a year at £30 an hour. Real figures are agreed with you at the start.
Which systems does it connect to?
It connects to the systems you already use, typically Core banking, Sanctions and PEP screening, Document capture, CRM. Linbetta builds it with a specialist Microsoft build team.
How do we get started?
Book a free 30 minute discovery call on linbetta.com. We then run a short proof of concept on one process, with success measures agreed up front, before rolling out.
(E) Next step
Linbetta can help you implement this.
Book a 30 minute call. We will walk through how the account opening and kyc agent would work with your systems and agree a short proof of concept.