We built an AI-powered KYC workflow over 12 weeks: (1) Intelligent Document Intake -- incoming documents (from email, portal, and scanned mail) were automatically classified by document type (passport, utility bill, company certificate, trust deed, bank statement, etc.) using computer vision and document classification models. Key data was extracted: names, addresses, dates, identification numbers, and financial figures. Document quality was assessed: illegible scans, expired documents, and non-compliant formats were flagged immediately. (2) Completeness Verification -- the system automatically compared submitted documents against the required document checklist (which varied by customer type: individual, corporate, trust, fund) and generated specific missing-item requests within hours of submission rather than days. The missing-item request was sent to the customer via their preferred channel with clear instructions. (3) Screening Automation -- extracted customer information was automatically screened against sanctions lists (EU, UN, OFAC), PEP databases, and adverse media.
Screening was continuous (not just at onboarding) -- any new sanctions designation or adverse media mention triggered an alert for the relevant customer. (4) Risk Assessment Support -- the system generated a draft risk assessment based on the extracted information: customer type, jurisdiction, industry, source of wealth, and transaction profile were analysed against the institution's risk criteria. The draft assessment included a recommended risk rating with supporting rationale. Analysts reviewed and approved the assessment rather than building it from scratch. (5) Workflow Orchestration -- the complete KYC workflow was orchestrated: document intake, extraction, screening, completeness check, risk assessment, analyst review, approval, and account opening were coordinated through an automated workflow with status tracking, SLA monitoring, and escalation triggers. (6) Periodic Review Automation -- periodic reviews were triggered automatically based on risk rating and elapsed time.
The system pulled current customer information, re-ran screening, compared against the previous review, and flagged any changes requiring analyst attention. Reviews with no material changes were fast-tracked for senior analyst sign-off.