Q3 Newsletter - A CLM Ecosystem

Summer is over here in the UK, although no one seems to have told September that - it is scorching outside. Creating a round-up of the last three months reveals Q3 has been fun-ish (barring lockdown etc).

Posted by: 
Alexis Fox-Mills
Sep 16, 2020

We've been introduced to loads of new customers who are digitally transforming their compliance processes. We've also talked to fantastic industry experts from our partner network in the Best Practice Podcast series. And, we've learnt a lot about the customer lifecycle management ecosystem you are part of.

Let's revise that earlier "fun-ish" statement and go all out - Q3 has been great!


The CLM ecosystem brings together RegTech and FinTech providers to help customers (i.e. you) manage compliance and risk. It also creates better experiences for your customers, as platforms and processes are joined up with fewer touch points.

The ecosystem pools and shares data securely and responsibly. Platforms are connected through APIs, so there are less to manage and fewer points of failure. There is also collective knowledge that can be brought to bear on fraud risks, as well as technical innovation that keeps everyone a step ahead of the bad actors.

PassFort's place in the ecosystem...

1 - Data: In accordance with your compliance process, you decide the checks that need to be carried out to be compliant with the regulation your products and customers are subject to in the jurisdiction you operate in. This could be any number of different checks, for any number of countries. Then we connect the data providers you need to complete this compliance processes, all via one API in one platform (ours).

2 - Automation: We then use smart policies, built around a central risk engine, to automate your KYC, AML and any other compliance checks that are part of your workflow. You can then make faster, more reliable risk-based decisions about customer onboarding and off-boarding. You can also automate all your ongoing risk management checks and renewals.

3 - Collaboration: Your compliance teams conduct their case management activity for each customer profile in a single, collaborative portal. Onboarding journeys, checks and ongoing risk activities are coordinated here. Customer profiles can be accessed, decisions reviewed, risk managed and escalations made swiftly and with access to all the right information.

4 - Insight: To fuel ongoing improvements in your compliance activity, you need access to data. Get clear insight on how your CLM processes are performing based on real data (your data). Reports show where processes need to be adjusted and you can request changes quickly and simply to continue getting the most from the CLM ecosystem.


When compliance teams need to request additional information to process an application, because that information can't be gathered through automated checks, they can use a more flexible solution. Configurable forms from PassFort.

PassFort forms can be created and tailored for each compliance task and completed with your customers to collect the different types of data needed for robust due diligence and risk management.

We're enhancing our configurable forms all the time and if you'd like a preview of how they work, get in touch, we would love to show you!

All our latest product release information is shared in the PassFort Change Log. You can also find loads of useful articles on everything from getting started to how the platform works in our Knowledge Base.  


The best practice podcasts for this quarter have been rich with expertise covering everything from How to use RegTech to tackle complex compliance challenges with David Cowland, Head of Compliance Ops at Fidelity International, to the latest in Next generation ID scanning with GBG.

Learn from superstar compliance experts -

  • Kayyum Abdul on Digital Transformation of CLM
  • David Cowland on digital-first for complex compliance

And from our partner network -

  • TransUnion's Greg Pierson on solving KYC challenges
  • GDC's Charles Gaddy on electronic ID checks with velocity
  • GBG's Simon Vallis and David Thomas on next gen ID scanning

All the podcasts and details of the speakers can be found here, on our events page.


Well, with Q3 coming to a close and Autumn well underway (are you listening September?), we're looking forward to the end of 2020.

Partly because lockdown has been weird and we hope the new year means less people will be ill, more people can return to work and everyone can worry less about stuff, but mostly because it is going to be PassFort's 5th birthday!

We have come a long way in 5 years and are looking forward to what comes next.


Get in touch with us any time to subscribe to our newsletter and we will also send you other thoughtful content. You can email us for a chat about your KYC, AML, CLM and other compliance processes too, we would love to talk.

And if you have any questions reach out anytime!

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