Legal ID: KYC and credit check in one flow
Identity verification and credit assessment in one flow, so an acceptance decision no longer comes out of four separate systems.
What it was about
Anyone doing business with a new party wants to know two things: is this really who they say they are, and can they pay. In practice those two answers live in different systems, at different vendors, with different logins. Someone stitches the results together by hand in a case file.
That takes time, but the real problem is traceability. If, six months later, someone asks why a customer was accepted, you need to be able to show which check gave which answer at which moment. Loose screenshots in a folder don't do that.
The parts
Identity check and credit assessment back to back in a single process, with a clear outcome per step instead of separate reports.
Our own assessment based on public annual accounts (solvency, profitability, liquidity) with an understandable outcome, so you don't need an expensive external lookup for every check.
Every check is recorded with timestamp, source and outcome, so a decision can be explained afterwards.
The system advises; a person accepts or declines. Borderline cases are set aside instead of being rejected automatically.
How we did it
- Started at the decision, not at the technology: what information do you really need to say yes or no?
- Mapped the existing separate checks and determined what really had to come from a paid source and what could come from public data.
- Built the flow with human checks first, and only then added automation on the steps that were reliable enough.
- Built the record-keeping in from the start, not bolted on afterwards.
What it delivers
- The acceptance decision comes out of one screen instead of four systems, and is traceable afterwards.
- Because part of the credit assessment runs on public figures, not every check has to be a paid lookup.
- How much time it saves per case file is something we will measure together with the user once it is fully in production. As long as we don't have those figures, we won't put them here either.
Something similar for your company?
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