Case Study: Santander achieves up to 80% faster onboarding with ComplyAdvantage

Santander cuts onboarding time by 80% with ComplyAdvantage

Santander UK, a major banking group, faced the challenge of reducing lengthy customer onboarding times to compete with fintech companies while strengthening its anti-money laundering controls. The bank needed to automate its manual, paper-based processes and screen against high volumes of adverse media to understand financial risk profiles. To address this, Santander turned to ComplyAdvantage and implemented its Adverse Media via API service.

By using the configurable API from ComplyAdvantage, Santander UK automated its adverse media screening. This solution drastically reduced the mean customer onboarding cycle time from 12 days to just 2 days, cutting process time by over 50% and in some cases up to 80%. The compliance team's efficiency was greatly improved, allowing them to focus on higher-level threats. The success of the ComplyAdvantage implementation was recognized with a Financial Innovation Award.

Santander