Explore how WNS stepped in as a strategic partner to build customized banking solutions and digitally transform FinCrime and compliance for a leading bank.

1. Digitalization
Accelerates KYC
Reviews to Boost
Bank’s FinCrime
Compliance
This is our story of transforming the KYC function for a leading bank
by leveraging the strong domain knowledge and data capabilities of
WNS’ FinCrime Center of Excellence. We re-engineered, re-designed
and automated processes, all within the framework of our client’s
existing technological infrastructure.

2. As we know…
Despite technological infusion, many banks still rely on manual interventions to navigate the complex
terrain of Know Your Customer (KYC) reviews. Such methods prove inadequate, given the sensitive
nature of customer data and the increasing complexity of regulatory mandates. Patchy digitalization
also directly impacts operational costs, customer experience and go-to-market timelines.
To remain compliant while being competitive and outperforming customer expectations, banks must
embrace new technologies and / or upgrade existing solutions to fully automate the KYC process.
The challenge for a multi-national bank
was…
Meeting its KYC-related commitments. Despite best-in-class systems and applications, the bank’s KYC
processes lacked the rigor to close reviews quickly and efficiently. The result was a protracted cycle of
120 days or more to complete the process, further exacerbating operational inefficiencies, customer
churn and increased costs.
Major pain points included:
01
wns.com
Multiple legacy
systems and
data siloes
Manual
e-mail
initiation
Access
restriction / data
lineage issues
Manual
screening
Gaps
in case
management

3. 02
wns.com
As a consulting partner,
WNS stepped up to…
Leverage its expertise in banking and financial operations, financial crime and compliance, and
automation to identify the factors causing process delays.
A comprehensive review of the client’s systems revealed the lack of optimal utilization of its
best-in-class technologies, resulting in a continued dependency on manual methods.
Enhancing workflow
capabilities and
validation of
customer identity
and document
verification, including
Anti-Money
Laundering (AML)
screening
Analysis of
forensic
document
images to rule
out tampering
Use of artificial
intelligence and
machine learning
to filter, prioritize
and suggest
next-best action
for alert disposition
and management
Seamless
integration of
technology and
regulatory
requirements to
identify actual risks
related to KYC
Attestation of
General Data
Protection
Regulation
(GDPR) during
document
sharing
The strategic areas for maximizing the bank’s technologies encompassed:
A B C D E

4. No
Yes Info / doc received
Overview of the Bank’s KYC Review Process,
Highlighting Key Challenges and Automation Potential
Challenge:
Lighthouse report
dependency on RM
Challenge:
Manually updating ~125
fields from KYC form
and 25 fields from other
docs is time-consuming
and error-prone
Challenge:
Manually updating
details to perform risk
assessment takes a
long time
Challenge:
1. Manually screening
through adverse news hits
2. Client team’s consent to
discount hits, as needed
Manually prioritize
case allocation in
Excel
Update KYC CLM
manually with KYC
form & customer
profile details
If profile does not
exist in KYC CLM,
update risk
assessment tool
Build ownership
hierarchy and
conduct name
screening on
screening
platform
Perform adverse media, PEP
& sanctions screening in
Google; if there are any hits,
reach out to RM for further
check / approval
Manually upload
documents in KYC
CLM system
Perform gap analysis by referring to multiple
applications and share drive data
Extract data and
save in shared
drive
Share client specifics /
pending information with RM
for their check / consent
Outstanding items sent from
generic mailbox
Monitor mailbox for
response and
initiate reminders /
follow-ups on
pending items
RM shares the account
activity report with WNS
for verification of details
Share the
BOW to WNS
for KYC review
BOW: Book of Work CLM: Customer Lifecycle Management
NVA: Non-value-added Activity PEP: Politically Exposed Person
RM: Relationship Manager
Challenge:
Manual prioritization
took 20 minutes at
the start of each day
Challenge:
1. Document extraction from multiple internal
sources was time-consuming
2.Manual extraction, collation, follow-ups and
saving of data were all error-prone processes
3.Manually naming folders gave rise to
inconsistencies, preventing smooth file access
Challenge:
1. Non-standard e-mails were
sent to the RM
2. Blank KYC form sent is NVA
3. Manually update MI Excel
1.0 2.0 3.0
4.0
5.0
6.0 7.0 8.0
9.0
10.0
11.0
12.0
13.0
Additional
information
required?
WNS’ KYC Review Team
Client
End
Start
03
wns.com
KEY

5. Enhancement of KYC Customer Lifecycle Management (CLM) Features: Specific gaps
were addressed, enabling such activities as case management, document navigation
(shifting from multi-source navigation to a unified view), embedded e-mail initiation
and tracking, auto-initiation of reminders and follow-ups, and data synchronization
with the core banking system.
Access to Restricted Applications: We identified problematic restrictions that
necessitated unwarranted hand-offs, ensuring greater access to enable
Straight-through Processing (STP).
Process Change / Re-design: Through value stream mapping, we unearthed pain points
and non-value-added steps and further recommended the establishment of a middle
office in the corporate segment to liaise with customers and relationship managers.
Tactical Automation: Quick wins were engineered by targeting small-scale
automation that could be developed quickly, maximizing cost-effectiveness and
yielding high ROI.
Advanced Analytics and Transformation: We prescribed industry-leading solutions and
advanced analytics to eliminate manual interventions in areas such as adverse news
screening, data extraction and other mission-critical activities.
To solve these issues, our consulting team
recommended…
A pragmatic approach that circumvented the immediate need for investing in new technologies.
Instead, the thrust was on augmenting the capabilities of the existing platform to efficiently address
the bank’s KYC goals.
To facilitate the transformational journey, we seamlessly integrated our client’s operational model
with a state-of-the-art financial crime Center of Excellence (CoE). A meticulously devised five-step
transformation roadmap was charted, encompassing:
04
wns.com
A
B
C
D
E

6. Client shares
BOW
File is
uploaded
Case
management
solution is applied
Documents are extracted
from multiple sources; gap
analysis is performed
Is there a discrepancy
in information /
documentation?
Shared with
middle office
for referrals
KYC
Accelerator
E-mail responses,
reminders and MI
reporting are
auto-initiated and tracked
Screening is
initiated and
discounting of
hits performed
Automated adverse
media screening
is integrated in
workflow
Access restrictions are
removed; CLM data is
synchronized with core
banking application
Case Management UI
Workflow for better tracking
Integrated e-mail tracking
Single view of customer
documents
Dashboard reporting
Potential
Solution
Enhancement
of KYC CLM
Features
Including
e-mail
integration,
workflow and
dashboard
Access to
Restricted
Applications
Such as access to
transaction
statements for
account review and
for addressing data
sync-up issues
between KYC CLM
and core banking
applications
Process
Change /
Re-design
Building
beneficiary
ownership
hierarchy
through
scanning of
ownership
documents
Tactical
Automation
Simple
automations for
quick wins like
MI automation,
improved e-mail
tracking and
more
Advanced
Analytics and
Transformation
Automation of
tasks such as
adverse news
screening, hit
disposition,
beneficiary
ownership
extractions and
more
Details
Overview of the New, Automated KYC Review Process Resulting from the
Five-step Transformation
Start
End
Referral
within case
management
No
Yes
A
A
A B C D E
D E C
E B
BOW: Book of Work MI: Management Information
CLM: Customer Lifecycle Management UI: User Interface
Key
05
wns.com

7. 06
wns.com
This comprehensive solution led to…
35-45 percent
increase in operational
efficiencies due to the
transformation
25percent
improvement in
the STP rate
100percent
KYC regulatory
compliance
50percent
reduction in operating
costs owing to the
FinCrime CoE
50percent
reduction in the manual
effort required in adverse
news screening
The client achieving a staggering 100 percent improvement in its KYC timelines, reducing process
duration from 120 days to 60 days. The other notable benefits were faster time-to-market, zero cost on
new technologies and fewer transformation requirements. Tangible outcomes included:

8. with WNS
Co-create to
outperform
About WNS
WNS (Holdings) Limited (NYSE: WNS) is a leading Business
Process Management (BPM) company. WNS combines deep
industry knowledge with technology, analytics, and process
expertise to co-create innovative, digitally led transformational
solutions with over 600 clients across various industries. WNS
delivers an entire spectrum of BPM solutions including
industry-specific offerings, customer experience services,
finance and accounting, human resources, procurement, and
research and analytics to re-imagine the digital future of
businesses. As of September 30, 2023, WNS had 59,873
professionals across 67 delivery centers worldwide including
facilities in Canada, China, Costa Rica, India, Malaysia,
the Philippines, Poland, Romania, South Africa, Sri Lanka,
Turkey, the United Kingdom, and the United States.
To know more, write to us at marketing@wns.com
or visit us at www.wns.com
Copyright © 2023 WNS (Holdings) Ltd. All rights reserved.