Accelerating Bank Customer Validation by 80%
CRIF, a global provider of business information, aimed to transform the Know Your Customer (KYC) process by introducing an advanced solution that reduced onboarding time from a lengthy 3-month procedure to an efficient workflow, cutting the duration by up to 80%.
In today’s dynamic financial ecosystem, verifying customer identities—known as the Know Your Customer (KYC) process—is a critical requirement for banks. However, traditional KYC processes were plagued by inefficiencies, with some companies waiting over three months to open new accounts. CRIF identified a business opportunity to drastically reduce onboarding times but faced a significant challenge: they lacked the internal resources to build and maintain the solution. Hiring and onboarding an in-house team would have delayed their competitive edge, while reallocating existing teams risked derailing ongoing projects.
The development process exemplified our commitment to transparent, iterative progress—balancing speed with precision to meet CRIF's market demands.
Addressing the challenge
Tight Collaboration Drives Rapid Development
Through strategic collaboration and agile methodologies, we addressed CRIF’s challenges head-on. The project began with a focus on rapid prototyping to deliver a demo version swiftly, followed by iterative development cycles to refine and expand the application.
We rapidly assembled a dedicated team and established the application's foundation based on initial documentation and requirements.
We conducted regular workshops with CRIF's multidisciplinary experts—including analysts, KYC specialists, sales representatives, security experts, and customer success specialists—to refine the solution design and feature functionality.
Daily synchronization meetings between Codya and CRIF teams ensured alignment on priorities and development direction.
We implemented an agile development methodology with 2-week Scrum sprints, enabling frequent releases and continuous improvements.
Our iterative approach maintained flexibility when project vision evolved, accommodating necessary adjustments seamlessly.
We transitioned to ongoing development post-launch, continuously enhancing features, improving functionality, and maintaining system performance.
We rapidly assembled a dedicated team and established the application's foundation based on initial documentation and requirements.
We conducted regular workshops with CRIF's multidisciplinary experts—including analysts, KYC specialists, sales representatives, security experts, and customer success specialists—to refine the solution design and feature functionality.
We implemented an agile development methodology with 2-week Scrum sprints, enabling frequent releases and continuous improvements.
Daily synchronization meetings between Codya and CRIF teams ensured alignment on priorities and development direction.
Our iterative approach maintained flexibility when project vision evolved, accommodating necessary adjustments seamlessly.
We transitioned to ongoing development post-launch, continuously enhancing features, improving functionality, and maintaining system performance.
Data Integration
KYC More aggregates business data (company structure, beneficial owners, etc.) from distributed sources into a unified KYC Report.
System Connectivity
The application integrates with various data sources, archives, monitoring and security systems.
Process Transparency
Clear display of case progress, statuses, and timestamps facilitates process tracking and management.
Intelligent Case Routing
When data is incomplete in complex cases, the system automatically routes requests to an internal investigation center with a dedicated KYC module.
Advanced Search Capabilities
Intuitive search functionality accelerates company identification when creating new cases.
A transformative solution that streamlines corporate customer onboarding while ensuring compliance with Anti-Money Laundering Act.
KYC More has transformed corporate customer onboarding by ensuring compliance with the Anti-Money Laundering Act (AML). Through our collaboration with CRIF, Codya has helped redefine what's possible in financial customer verification—proving that compliance and convenience can coexist through thoughtful digital transformation.
faster KYC process
months to prepare the demo
months of ongoing development
cost reduction
faster KYC process
months to prepare the demo
months of ongoing development
cost reduction
Technology stack
We built the product from the ground up and took part in the customer’s onboarding. Seeing how the app works in such a regulated and demanding market as financial operations, was very rewarding.
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