Standardizing onboarding for a global Commercial Real Estate investment company
The EU Compliance Team for a global Commercial Real Estate Investment company were looking for a solution to enhance their KYC and Enhanced Due Diligence (EDD) efforts for effective tenant onboarding, including additional Adverse Media Monitoring for their search engine research across all geographies.
The client was conducting KYC due diligence on retail tenants on an individual basis, and using a variety of data sources, with these laborious manual processes creating great inefficiencies for the compliance department. On top of this, the tenants were spread across multiple regions, so the culminating business costs were significant.
The team had to prove their due diligence findings to regulators, but this was proving difficult due to a distinct lack of oversight for their clients’ complex risk profiles.
To achieve compliance, the answer was to look to Arachnys as a technology provider. Through the Arachnys platform, the client’s KYC processes were standardized through a single platform, where all research can be enriched, normalized and validated.
Arachnys supplied the client with access to a risk-relevant library of 23,000 data sources, with the ability to leverage structured data sources and Google search results as required. The solution was scalable for larger teams, and tenant onboarding was far quicker as they could be screened at point-of-sale. All this while also reducing data costs.
Our solution gave the client full managerial oversight, and data was stored to provide a comprehensive audit trail to appease regulators, adhering to policies across all regions.
- Frictionless KYC – tenant risk profiles can be shared, escalated, and exported easily, whole and full audit trail of the due diligence process is captured
- Reduced manual effort – access to open sources, with search results presented to analysts
- Cost saving – structured data providers can be used across other business areas to decrease license costs
- Fast implementation – go-live within 14 days of contract execution provided board with measurable ROI