The Case Study Mizuho Americas: Digitalizing Client Onboarding Mizuho Americas reimagined Client Lifecycle Management and its enterprise-wide data strategy to deliver modernized and improved client servicing.
Challenge
Solution
Managing Complex Regulations Like many of its peers, Mizuho Americas had legacy KYC systems for its different departments and relied on manual and paper-based processes. The bank selected Fenergo to transform its KYC operations to support its growing client base and modernize its approach to KYC, onboarding, and client data management.
Streamlined Onboarding with Automated Compliance Fenergo's Client Lifecycle Management was selected for its extensive and configurable regulatory rules engine and digital client journeys to ensure consistent compliance, accelerate onboarding, and reduce friction for Mizuho Americas’ customers.
Result
By Implementing Client Lifecycle Management, Mizuho Americas achieved:
Streamlined Client Lifecycle Journeys. With Fenergo CLM, Mizuho Americas has modernized and digitalized client onboarding processes and streamlined operations with legacy systems. Data and documentation reuse expedites low-to-medium risk client journeys. Reduction in Onboarding Times. The improvement of data quality and reduction of rework efforts allow Mizuho Americas to speed up onboarding and reduce the volume of backlogs for onboarding new clients and subaccounts of existing clients. A Centralized Data and Documentation Repository. Fenergo acts as a centralized repository for data and documentation, facilitating re-use and effective management and storage of information to reduce repeat outreach to clients and manage changing regulation more efficiently. Modernized and Improved Client Servicing. Fenergo’s streamlined client lifecycle journeys, digitalization, and automated KYC allow Mizuho Americas to deliver more frictionless client experiences and create a 360-degree view of its customers to drive better service and identify new revenue-generating opportunities.
If you would like to read the full story, download the case study by Celent to learn more about the bank’s challenges and successes achieved by implementing Fenergo’s Client Lifecycle Management solution.
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THE FINANCIAL BRAND INSIGHTS WINTER 2021
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