SOLUTION BRIEF | FINANCIAL SERVICES

Financial Services Onboarding
Simplify and accelerate your processes

Key challenge
Process complexity in customer
onboarding that is often dependent on
staff for tribal knowledge and involves
many manual steps poses significant
challenges in determining risk and running
automated regulatory checks. Financial
institutions are also at risk for reputational
damage during client interactions due topoor visibility of client data. When systems
needed for onboarding are not unified,
it often results in unnecessary duplicate
data entry during the onboarding process.

Comprehensive risk
mitigation
With ABBYY Process Intelligence,a financial services firm with over
$1 trillion under management and5M+ clients now monitors 100%of onboarding (vs. 15%) with 3
FTEs (vs. 16).

Solution
ABBYY’s platform automates and accelerates onboarding processes.
It uses cognitive services to simplify access to data for seamless client
identification and verification, resulting in stellar client experiences. Withmachine learning (ML) and artificial intelligence (AI), ABBYY helps financial
institutions unlock data that may be trapped in content. Manual, inaccurate
processes involving documents transform into automated flows, reducing
time to revenue, improving customer experience and loyalty, and enabling
compliance with Anti-Money Laundering (AML) and Know Your Customer(KYC) regulations.

Discover the ABBYY difference for onboarding
Ensure digitization efforts have a direct client benefit• Monitor your onboarding process to identify areas for continuous improvements• Automate document intake processes, including mobile ID capture, verification, and validation• Reduce customer friction with simplified document capture and processing• Unify communications across channels for more personalized customer experiences

Reduce operational costs• Implement data-informed process improvements beyond incremental improvement• Orchestrate work between people, systems, and robots• Monitor, alert, and predict outcomes to better navigate the ups and downs of uncertainty• Gain insights into process bottlenecks to proactively work to resolve themSeamlessly connect front, back, and middle office• Optimize and accelerate compliance controls and systems to quickly respond to changing regulations• Easily integrate with leading RPA, BPM, ECM• Reduce human interpretation, error, and manual data input by automating key processes• Simplify submission of trailing documents needed within the onboarding process

Onboarding process – financial services
Relationshipmanagement

KYC / credit

Legal

Relationshipmanagement

Risk & audit

Acquisition

Information
gathering /Suitability

Account
opening /Disclosure &transparency

Trading &accounting

Reporting

Prospecting• Lead generation• Contact
management• Channel
adoption• Risk profiling• ID verification /validation• Documents &forms• eSignatures• eSignature• Funding (ACAT/DWAC)• Ordermanagement &Compliance• Portfolio & tradeaccounting• Cashiering(АСН/ Wire /Check)• Post-tradecompliance• Riskmanagement• Audit, ongoing
AML, enhanced
due diligence

The combination of human expertise with a digital workforce enables financial institutions toensure regulatory compliance, improve operational efficiencies by automating what is manual,and create exceptional customer experiences. Learn more at abbyy.com/finserv.

For more information, please visit www.abbyy.com
If you have additional questions, contact your local ABBYY representative listed under www.abbyy.com/contacts.
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