Mashreq and AML Partners–Strategic partners in AML Compliance, eKYC Golden Record

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Mashreq chooses RegTechONE for eKYC Golden Record

AML Partners proudly announces Mashreq as one of our recent clients now using the RegTechONE platform. One of Mashreq’s priorities included leveraging RegTechONE capabilities to implement eKYC at a central location.

An innovative, client-centric, and digital-driven bank with an established footprint in the Middle East, Mashreq provides a strong global network supporting large corporates, financial institutions, and NBFIs in their business growth. Their strength lies in combining sector expertise and client experience while maintaining fast and accurate KYC and AML compliance as priorities to improve the bottom line.

eKYC Golden Records: Onboard once, and use at all branches

Like any bank with a large footprint globally, Mashreq sought to further enhance KYC of global clients. Specifically, the same financial institution with accounts in multiple jurisdictions would have multiple KYC documents at Mashreq. The bank sought to eliminate duplication and to create efficiencies to reduce cost and improve customer experience.

AML Partners worked with Mashreq team members to implement RegTechONE. The RegTechONE platform for AML and GRC enables eKYC with centralized onboarding. At Mashreq, financial-Institutional clients with presences in multiple locations now experience onboarding in one system by one staff member.

This KYC entry then becomes the “Golden Record,” to be accessed, referred to and updated by any number of Mashreq staff at locations around the world. The solution also allows different locations to add KYC-related information relevant to their respective jurisdictions. All this is enabled using RegTechONE, a no-code, configurable platform.

Amith Rajan, the head of wholesale digital, data and analytics at Mashreq, sees how RegTechONE supports Mashreq’s plans for KYC onboarding:

“Mashreq has worked with AML Partners not only to develop a ‘1 KYC Golden Record’ solution, but also an end-to-end workflow that enables customer onboarding, periodic KYC updates, multiple stakeholder review, and electronic customer outreach for information and document collection,” Amith Rajan said. “The entire workflow is digital, automated, and configurable using AML Partners’ no-code platform.”

AML Partners CEO Frank Cummings lauded Mashreq’s vision and accomplishments related to their new approach to eKYC at a central location. “Great things happen when we work together to solve challenges and increase productivity. We were excited about Mashreq’s vision, and we are so happy that our RegTechONE platform is key RegTech for their successful project.”

Start achieving more today.

We are so confident in the power of RegTechONE to transform your GRC and AML Compliance solutions that we will prove it to you. Contact us today to experience all the ways that RegTechONE is The Power of Everything.

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