Celent Case Study: Automating KYC Investigations with ABN AMRO

ABN AMRO is the winner of the Celent Model Risk Manager Award 2022 for Data, Analytics, and AI, enabled by Quantexa.


Banks around the world continue to struggle with complexities and inefficiencies in the know-your-customer (KYC) process, particularly for their corporate clients, who can have several subsidiaries, beneficial owners and hierarchies, business lines, and regional operations.


The Challenges of Legacy KYC Processes

Performing due diligence on a bank’s corporate clients to assess their financial crime risk has become a highly manual, inefficient, and ineffective process for many banks due to the severe limitations of legacy technology systems used in KYC.


Financial criminals exploit this weakness and evade detection by weaving complex networks of shell companies and corporate structures.


A key challenge in corporate KYC is the legacy technology in place, which struggles to deal with a range of data types, connect a bank’s internal data sets with external data sources, and analyze the data automatically and holistically.


Banks around the world are now exploring ways to improve automation and streamline KYC processes with the goal of improving internal business efficiency, strengthening regulatory compliance, and enhancing the overall client experience.



Overcoming Inefficient KYC Processes Using Context


Next-generation technologies, such as Quantexa’s Contextual Decision Intelligence (CDI) platform, which leverages entity resolution and network analysis is bringing about a paradigm shift by powering contextual, automated, and intelligent identification of risky individuals, entities, and transactions, and visually revealing their connections and networks to enable banks like ABN AMRO to make more informed operational decisions at speed and at scale.


Read the winning Celent case study today to learn more about the initiative and the impressive results ABN AMRO reaped by deploying Quantexa’s advanced technology solution. 


What you’ll learn:


  • How ABN AMRO leveraged Quantexa’s entity resolution to solve the fundamental challenge of improving poor data quality.
  • How CDI is significantly enhancing the intelligence and efficiency of complex KYC investigations for the bank.
  • A detailed overview of the initiative, including the benefits of automating KYC investigations.
  • How CDI provided ABN AMRO with access to extensive data sets, resulting in productivity enhancement and improved customer experiences.
  • Future plans for ABN AMRO and Quantexa.


Download the case study to explore how an automated approach to KYC can improve efficiency, enhance productivity and detect hidden risks faster, and more accurately. 

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