Challenge

UHY Farrelly Dawe White was looking for a client onboarding solution that would be effective and efficient for both the business and the client. The business onboards new clients face-to-face in their offices, as well as in-person at off-site locations. New clients are also able to send in their identity information in order to start the onboarding process.

However, this process was proving to be quite inconvenient and frustrating for the client and the business.

Frustrations for the Client

• Clients need to take time out of their schedules to visit offices
• Clients may need to travel long distances to get to their nearest office
• May be required to wait in line in order to see a representative
• Meetings can be quite long as documentation needs to be photocopied/scanned before it is filed
• After all their time and effort, a client may still not be able to be onboarded if their identity documentation is not in order. For example, their Proof of Address document is not recent enough
• Overall inconvenient experience for the client

Frustrations for the Business

• Employees were spending significant time onboarding new clients, resulting in high back-office costs
• Business resources were tied up in the client onboarding process rather than providing value directly to their clients
• The business wanted a more robust method of document verification to ensure better compliance with AML legislation