Appway has been awarded the Best Solution in Customer Onboarding in the inaugural Regulation Asia Awards for Excellence 2018 at a ceremony in Singapore on 13 November 2018.
Appway’s customer onboarding solutions cover the full client lifecycle end to end, helping major banks digitalize their onboarding processes and more quickly adapt to shifting conditions and regulatory changes. Some of the largest global and local financial institutions—including HSBC, Hang Seng Bank, Deutsche Bank, and Credit Suisse—currently use Appway solutions in their onboarding and regulatory review processes.
The onboarding solutions enable prospecting, account opening, client profiling, compliance checks, data maintenance, and offboarding from within a single platform, effectively reducing the time needed to activate a new account to one or two days. This is significant for regulated financial institutions in Asia Pacific, which are subject to increasingly stringent anti-money laundering and know your customer requirements.
Global rollouts of Appway solutions typically include local variations to meet country-specific regulatory standards, powered by a sophisticated rules engine, which automates compliance checks and eliminates the need for manual processes to ensure compliance. The onboarding solutions are bolstered by a pre-packaged solution for regulatory reviews, which enables banks to improve compliance checks for existing customers and ensure effective management of operational and regulatory risk.
Appway’s automation capabilities serve to increase front and back office efficiency and effectiveness for over 420,000 users worldwide, allowing compliance professionals to dedicate more time to tasks where their expert knowledge can add the most value.