Client Reviews and Remediation

Requests for remediation can arise with little or no prior warning and must be completed within regulator mandated timescales. Redeployment of resources from other essential work may be necessary, which is disruptive, can impact client satisfaction and delay revenues.

The more manual your onboarding and relationship management processes, the more likely you are to face remediation. Without automation you lack the controls, insights, audit and scheduling capabilities required to conduct periodic or risk-based client reviews effectively, and evidence that you are mitigating risk successfully.

Whether you are asked to reassess KYC/AML risk, validate suitability or confirm attitude to risk – across your entire client base or only your highest risk individuals – the business cost and impact on client service can be immense.