Infosys' Know Your Customer Platform - iKYC
Infosys' Know Your Client (iKYC) Platform is a workflow-based client onboarding platform to streamline the processes for new and existing clients while complying with local and global regulations.
| Challenge |
Solution |
Benefits |
| Handle various types and roles of clients
|
Data structure design accommodates complex client roles/types and hierarchies
|
Design flexibility allows configuring the application to manage client combinations
|
| Regional variations in business processes other than regulatory changes |
Ensure consistency through business processes maintained as workflows in a BPM tool |
Consistency in business processes across regions and business functions for similar regulatory environments
|
| Change in regulations to reflect in the application |
Common repository for all business rules, enabling access to the application by business managers for changes/updates in rules |
Faster turnaround time for application to respond to regulatory changes |
iKYC is platform-agnostic, ensuring rapid implementation on any platform. It reduces client onboarding time and strikes a balance between client risk and quality.
The solution incorporates regulatory changes quickly, enabling immediate compliance. The robust platform ensures the availability of quality information and facilitates prompt approval by compliance managers.
iKYC reduces the duration of the client onboarding process, leading to customer delight. In addition, a customizable platform supported by orchestrated processes and efficient system design eliminates system redundancy and duplicity, resulting in enhanced revenues.