Metro Bank selects Artesian’s KYC solution
Artesian Solutions has landed a three year-deal with Metro Bank, its first major UK client, for the Artesian Risk and Compliance Hub (ARCH), reports Jane Connolly.
Following a successful pilot phase, Metro Bank has opted to adopt ARCH to revolutionise the new customer onboarding process with dynamic data-driven automation of risk and know-your-customer (KYC).
The software-as-a-solution product enables relationship managers to run smart, bank-compliant pre-screening to assess risk and raise early flags against any potential issues that may arise.
ARCH can be configured to the bank’s preferred credit risk and KYC partners, along with its own unique policies to provide a summarised overview of risk.
Automated distribution of simple tasks to relationship managers and other bank employees frees up KYC and compliance specialists to deal with more complex issues.
Matt Elsom, vice president of risk solutions at Artesian, says: “Metro Bank has a true desire to disrupt the status quo and a strong appetite to adopt technology innovations that improve customer experiences, whilst at the same time protecting themselves and their customers as they continue on an aggressive growth trajectory and attract even more fans.”
Mark Stokes, managing director commercial banking at Metro Bank, adds: “We are excited to work with Artesian to take such a revolutionary tech-driven approach to bringing compliance and KYC into the forefront of our business and commercial banking activities. Artesian will help us know more, know sooner and save valuable time we can invest in building great customer relationships.”
Technology-driven compliance and KYC management is a new sector for Artesian, as the UK software company has been previously better known for its sales engagement solutions.
Artesian and Metro Bank have worked together for a number of years and ARCH was quick to respond when the bank was looking for a development partner.
