KYC remediation

Client-first is at the heart of everything that JDX does.

We shape our consulting capabilities, services, and experiences around our clients, working with them, and our partners, to design and deliver solutions with outcomes that target our clients’ pain points, unmet needs, and real business problems. We use our unique perspective to provide optionality in the client outcome, while unlocking value throughout the journey. Today’s JDX client story showcases one of our Client Lifecycle projects.

Our client, a financial services market intermediary, required adaptive capacity and skill to bolster its efforts to perform a large-scale KYC remediation exercise across a multi-lateral electronic trading platform.


As regulators continue to narrow their focus on Anti-money Laundering (AML) and Know Your Customer (KYC) processes and controls, institutions must adapt to increasing regulatory complexity, across multiple jurisdictions. Firms that rely on manual document checks for their KYC and AML processes need a dependable and committed partner to help undertake remediation, project and program delivery services to address imminent enterprise-wide regulatory deadlines, operations challenges, and to drive improvement initiatives. Our market-leading competencies cross dimensions such as location, backlogs, control breaches and regulatory compliance, leading to reduced regulatory risk, and improvements to the customer journey.

Our approach

Executing across all components of the KYC process, our team expertly guided the remediation effort through:

  • An initial gap analysis
  • Public due diligence
  • Client outreach and follow-up
  • Ultimate beneficial owner determinations
  • Screening
  • AML escalation
  • Final risk assessment
  • Account suspension
  • Offboarding

Outcomes / Measurable impact

In establishing targets and key performance indicators with the client, we were able to leverage JDX’s data and technology consulting team to develop an automated management information dashboard to track progress or highlight any risks or issues. We worked closely with the client to continuously adapt and improve the KYC process resulting in:

  • Efficiency gains
  • Reduced touch and elapsed times
  • Addressed critical risks and issues

Among many improvement examples, we recommended that our client use an external technology solution as an independent and reliable source to support identification and provide plausibility of specific data points. JDX realised key benefits by providing an additional trusted channel to review data for unresponsive clients, which couldn’t be validated by the client’s primary authoritative sources.

A further key recommendation to the client was to reduce their screening look-back policy from 10 years to 5 years. The tangible outcome of this recommendation was a quality improvement that resulted in:

  • A reduction in touch time of 1 hour per file
  • A combination of JDX recommended process improvements resulted in the project successfully concluding in November 2020, with just 7% of unresponsive clients recommended for account suspension and offboarding

Unlocking tangible value along the journey, while simultaneously charting a strategic course to the future is part of JDX’s value proposition. The successful completion of this client project has led to further remediation opportunities on other trading platforms in the U.S. and Asia. The client has also engaged JDX in discussions to formulate iterative programme plans for a large-scale digital transformation to improve their end-to-end client lifecycle, focusing on process, data, and technical improvement in the KYC due diligence space. This will include incremental process improvements, but also working with engineers to implement technology to standardise processing, improve transparency and data processing to meet key performance targets.

‘The project was of a large scale and operationally complex, with multiple stages and processes. JDX were able to work effectively with a significant number of business-lines and client-based stakeholders’

JDX were able to track each client’s progress through completion whilst providing weekly status and progress updates. Given the high number of customers involved, this insight was critical to the projects success and our ability to deliver on our agreed objectives

JDX were highly professional and flexible and could adapt and deliver against very challenging circumstances during 2019 and 2020. JDX were incredibly committed and shared an interest in our success. They recommended various process improvements and provided valuable insight and feedback which helped us improve the overall client on-boarding and engagement experience.”

Contact us

For more information on our Client Lifecycle solutions, please reach out to Gaby Bolton, head of Client Lifecycle Management, or Rosalind Secker-Walker, head of Client Lifecycle Management (US).