Client

The client is a large asset manager based in the United States, with investments spanning real estate, credit, renewable energy, and secondary strategies.

Challenge

The client was leveraging a vendor platform to onboard new customers and maintain existing records for over 25,000 investors and related parties, but faced issues with the manual and static nature of the platform, including:

• Manual, labor-intensive processes: The onboarding process was time-consuming as forms and KYC details had to be filled in manually
• Record duplication: The system had multiple records for the same investor, leading to errors in account and asset management
• Risk assessment gaps: Deficiencies in KYC processes undermined the ability to maintain reliable customer risk profiles
• Periodic review limitations: System limitations meant periodic reviews aligned with risk parameters could not be scheduled for all customers
• Outdated technology: Platform gaps prevented the firm from meeting industry standards and competing effectively with other investment houses

Solution

After analyzing our client’s existing processes and challenges, we implemented Compliance Manager, eClerx’s proprietary CLM platform, which combines robotic process automation (RPA), artificial intelligence (AI), and machine learning to reduce manual effort, eliminate iterative communication with clients, and accelerate time-to-market.

First, we migrated existing data from the legacy system into Compliance Manager, scrubbing, mapping, and ingesting as needed to avoid duplication and partial records. Then, we implemented processes for accurate risk rating and the scheduling of periodic reviews to help make more informed decisions, reduce operational errors, and enhance risk profiling. Highly customizable and equipped with a framework covering over 200 jurisdictions, Compliance Manager enabled the client to manage regulatory complexity and operational burden across KYC onboarding, refresh, and remediation processes.

To further improve efficiency, we implemented dynamic subscription forms through our Investor Portal solution. This reduced manual intervention and back-and-forth communication and consolidated customers with multiple accounts under a single technology ecosystem to minimize repetitive data capture and entry-related activities, allowing resources with deep domain expertise to focus on value-add work.

For long-term success, we established a global 16×5 delivery team to support tech and BAU processes and deployed reporting and analytics to monitor and improve operations continually.

Impact

These initiatives resulted in substantial efficiency gains and increased transparency in the client’s KYC operations, including:

• 80% increase in throughput

  Enhanced data quality & risk-based configuration improved data aggregation and screening automation rules for straight-through processing.

• 30%+ improvement in CSAT

  Streamlined onboarding processes enabled faster client conversion with fewer redundancies and boosted the client experience.

• 100% real-time monitoring coverage

  Strengthened transaction monitoring system integrated seamlessly with existing data management systems enabled improved monitoring and validation.

• Reduction in operational errors

  Centralized client data & document repositories eliminated duplicate records and reduced manual touch points and error rates.

• Enhanced reporting & controls

  Deployed reporting portal enabled real-time dashboards and reports, and established a continuous improvement loop to review and update rules based on feedback, emerging risk patterns, and regulatory changes.

Conclusion

The client was impressed with the considerable improvements and increased transparency in their KYC operations and continues to leverage Compliance Manager to enhance their services and meet their growth strategy goals.

Additionally, we are strengthening the platform’s AI and automation capabilities to address evolving client needs across compliance, regulatory requirements, and the KYC lifecycle more effectively.