The goal of customer onboarding is to bring clients on board as easily as possible, meeting requirements from regulations but most importantly: guiding clients through the process in a logical way that does not annoy the client.
The SCOPE KYC Cloud solution offers functionalities to realise this. For example, during the client stock-taking process, data which is required for the customer boarding process and risk classification by the custodian bank is already requested from the client.
To upload digital evidence, identification documents and the like, the SCOPE KYC Cloud solution offers a user-friendly document upload function which neatly stores the uploaded documents in the relevant client dossier.
SMT is working with several custodian banks to optimise the collaboration and integration where possible, to realise the most efficient solution for both the client and the investment manager.
Principle: everything is shared
Because both the client and the investment managers use the same set of information, there is little room for errors. Every alteration to the data is directly related to the other users, no matter who performed the alterations. To keep the data exchange even more secure, double verification via text message is required when logging in.
Users of the SCOPE KYC Cloud solution can generate the required documents to request and open a new account, and enter into a tripartite agreement between the client, the investment manager and BinckBank. This is a major step towards increasing the efficiency of the customer onboarding process whilst preventing mistakes.
This is the first step in digitising the customer onboarding process and the integration with banks and increasing the efficiency of these processes. The goal is to digitise the entire process, including digitally signing the documents, whilst leaving the option to use pen and paper when automation is not an option.