Taxonic Case
Implementation of Pega Client Lifecycle Management & Know Your Customer
Like many large organizations, The Volksbank was struggling with outdated legacy systems, severely limiting the organization's IT flexibility. Moreover, changing customer needs and strict regulations required rapid adaptability to these changes. For these reasons,
The Volksbank decided to deploy Pega as a workflow automation platform within its Client Lifecycle Management processes, using the strategic Pega Client Lifecycle Management (CLM) & Know Your Customer (KYC) application.
With the implementation of Pega CLM & KYC, Taxonic helped The Volksbank to set up a streamlined onboarding and due diligence process. The customer process supports real-time onboarding where customers can provide all necessary data at once. The KYC module also ensures a fully compliant customer research process that meets various laws and regulations, including the Anti-Money Laundering and Counter-Terrorism Financing Act.
By adopting a multi-channel principle, these processes are available through various channels such as the mobile app, retail site, customer, and advisor portals for different brands within the bank. As a result, adjustments and improvements in the process are immediately available in all channels for all users. This multi-channel approach not only makes maintenance and further development considerably easier, but also ensures a consistent customer experience across all channels.
