The story of PassFort and the Payments Provider

Another complex case solved, working with a payments client to reduce manual effort in complex KYC and AML processes.

Posted by: 
Alexis Fox-Mills
Jun 16, 2020

June 16, 2020


An international Payments provider wanted to reduce the volume of manual work involved in its customer lifecycle processes, including onboarding and ongoing risk monitoring. The aim? To reduce manual intervention by 50%.

The firm wanted to ensure that as its business grew, there wasn't an exponential need to hire new Compliance Analysts to meet the demands of increased customer due diligence.

Headquartered in the UK, the business was targeting a global audience of corporate clients, predominantly focussed on the UK and US markets.

With an international, corporate client base, there was always going to be need to have a team review cases - but it was important they didn't have to review every case.

The firm's approach to service delivery matched this ambition - be cloud-based; smart and simple to do business with, while being trusted and therefore compliant with all relevant regulation.

Its brand personality - flexible and customer focussed; use automation to create robust customer due diligence around compliance processes but with awesome, seamless customer experiences.


The Payment provider's risk-based, global approach to compliance meant a lot of complexity in its workflows for medium and high-risk corporate clients applying for products.

This complexity needed to be managed efficiently. Using its existing processes would mean customer due diligence and risk renewals would take too long and the processes wouldn't be scalable as its client base grew.

The exact time needed to execute compliance processes wasn't being recorded. However, the firm knew though there were inefficiencies and these could be reduced if the amount of manual intervention were controlled. A more sure way to measure and record this data was essential.


PassFort became the single SaaS solution for the international Payment provider's customer lifecycle processes.

Complex compliance processes were mapped and turned into digital workflows built around PassFort's central risk engine. These processes were then implemented using PassFort's flexible smart Policy Builder.

The smart policies meant compliance workflows - including different checks and verification tasks - were specifically tailored for the firm's requirements. The different checks could also be adapted for different regions, regulations, audiences and future requirements.

The Payment company's different data providers were integrated through PassFort. Checks for its corporate clients were automated as far as possible (and desirable), then manual intervention was flagged when necessary and according to the firm's risk model.

PassFort was also able to recommend the firm change its primary data provider for business and shareholder information for US entities. This resulted in a significant reduction in time-to-completion for ‘Identify Officers’ and ‘Identify Beneficial Owner’ tasks.


PassFort delivered a full CLM solution and continues to make recommendations to the Payments firm for greater efficiency and ROI.

Now able to monitor and manage the performance of its compliance processes using our suite of reports, the firm can pinpoint where further improvements are possible.

Requests to change compliance workflows are made on a regular basis via its Customer Success Manager, which means the firm continues to benefit from PassFort's flexibility and agility.

The Payments firm has met its ambition of scaling without having to increase Compliance resources. And PassFort continues to enable automation, with a reduction in unnecessary manual intervention.

Example: PassFort recommended the firm change its primary data provider for business and shareholder information for US entities.

  • This resulted in a significant reduction in time-to-completion for ‘Identify Officers’ and ‘Identify Beneficial Owner’ tasks from 90 minutes to 20 minutes
  • There was also an increase in ‘task completion’ - automated and manual - from 88% to 97%
  • The Payment provider onboarded US customers 78% faster the month after PassFort's recommended change and was able to onboard 9% more US customers

Get in touch

If you are a growing business that's regulated anywhere in the world, get in touch with us for a chat. We can help you automate your compliance and risk processes, while reducing the manual intervention to an appropriate level.

If manual intervention is called for in your compliance workflow, we can make that efficient through notifications and with full case management in the PassFort Portal.

We'd love to hear from you and to work with you to solve any compliance challenges you face.


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