Workflow Automation for Customer Due Diligence

Photo by Kaleidico / Unsplash

CDD was a BPM application built to facilitate the process of verifying the identity of customers and identifying potentially suspicious activity.

Several banks ran afoul of U.S. government regulations in 2012 for not vetting their customers appropriately which resulted in them facilitating money laundering by criminal organizations. The client in this project was fined almost $2 billion dollars by the U.S. government as a consequence. They were facing another round of fines unless they had a robust customer due diligence application in place by the end of 2015. This project to build a new due-diligence process application launched at the beginning of 2015, which resulted in a time-sensitive and high-stress project due to the firm delivery deadline and the financial repercussions if the deadline was missed.

Apex consultants built a BPM application which would be used by the client's representatives to identify potential issues with customers in order to determine if they were eligible for business, e.g. involvement with governments or criminal organizations, political power being wielded by members of the business, percentage of income originating from dubious sources, etc. The application was built to make strong use of internationalization due to it being used worldwide. Development of the application was challenging because of lack of direct access to the database; all database operations were instead performed via Web services.

The application was successfully completed on time and was launched to support the revised customer vetting processes and maintain compliance with government regulations.

Nick Laughton

Nick Laughton