A mid-sized commodity trading company was experiencing delays onboarding new counterparties. The existing process relied heavily on internal teams manually gathering information, reviewing corporate documentation, validating ownership structures, maintaining onboarding records and coordinating approvals. This was all done in addition to their primary responsibilities.
The result was:
Hire additional internal staff — increased costs with little flexibility to scale up or down in response to the changes in business flows.
Implement a fully automated AI solution — required significant investment, lengthy implementation timelines and extensive workflow redesign before benefits could be realised. The ongoing, and increasing cost, of running AI models is a growing concern for many businesses which have rolled out AI capability to employees on an enterprise scale.
Solved by AI
Data extraction, information validation, initial information gathering and draft file preparation.
Solved by offshore delivery teams
Follow up on high risk flags through specialised information gathering, finalisation of counterparty file, review and validation of ownership structure mapping, workflow coordination, and follow-up with stakeholders.
Solved by industry experts
Escalations, complex ownership structures, non-standard counterparties, process oversight, and continuous improvement.
The majority of onboarding activities were completed significantly faster and at substantially lower cost. Internal teams were freed from routine administration and able to focus on commercial priorities. Most importantly, experienced industry professionals remained available to support complex situations where judgement was required.
Related service: Counterparty onboarding & KYC
(Details have been generalised to protect client confidentiality. Outcomes reflect actual engagements.)
