KYC banking

Automating continuous monitoring for a national bank’s EDD cases


One of the largest banks in the United States came to Arachnys as they were looking to alleviate the challenge of conducting research globally. As is the case with many financial institutions, conducting KYC on a client base is timely and costly, and must adhere to regulatory restrictions. Where this client was concerned, there was also the additional challenge of continuous monitoring for any risk-relevant changes among their clients, causing friction for their processes.

These challenges were also exemplified by the bank’s lack of knowledge for where to best identify risk, so wanted to upskill their team to save cost; using an in-house solution rather than outsourcing is an effective cost saving solution. The client also wished to speed up their monitoring processes through the use of automation. While upskilling their team, the analysts would add human value in interpreting data, but by automating the inputting of data, the building of an audit trail is fast and removes the need for manual work which can create inefficiencies.

Once risk factors exceed a certain threshold (where 21 factors are continuously monitored), Enhanced Due Diligence (EDD) needs to be conducted for further investigation. This is a procedure that is usual for clients with exposure to an international ownership structure. The research requires searching in foreign languages, and the bank had no capability to search and translate content globally, which causes problems for identifying risk during the monitoring process.


Arachnys was able to assist through our cloud-based platform; we were the bank’s first ever vendor to use cloud architecture. Alongside the contracting process, Arachnys was able to configure the deployment and implement the solution with just 12 weeks for maximum customer experience. The fully live platform was available for use by 75 members of the client’s team to conduct effective due diligence and continuous monitoring through the automation of manual processes. The time to conduct EDD was reduced by half, headcount was reduced to eliminate duplicate work and efficiency was vastly improved, as well as a cost reduction of 50%.

Further, the bank is looking to leverage the platform further through the addition of more users to their AML Investigations and fraud analytics teams.


  • Increased efficiency – the EDD investigation time was cut by 50%, eliminating the irrelevant manual work of 75 users, with a 40% better output per user recorded after 8 months
  • Cost saving – EDD spend reduced by 50%
  • Fast, cloud-based implementation – Go-live in 12 weeks from contract signature to fully live platform with 75 users