Case Study: a large multinational bank streamlines KYC compliance with FrescoData

Multinational Bank Successfully Implements In-house Know-Your-Customer Data Validation Process with FrescoData

A large multinational bank needed to meet complex KYC compliance requirements across the many countries where it operates, while keeping all customer data inside its intranet. Its Risk and Compliance team had to verify millions of records manually and was struggling with the time, effort, and international data coverage required. FrescoData provided an in-house install of official government databases and related guidance to support the bank’s identity verification process.

With FrescoData, the bank validated customer identities without sending data outside its internal network and gained access to current official data from 20+ countries. The implementation reduced the time and effort needed for recurring KYC checks, expanded the bank’s identity validation records by 50%, and saved money on data licensing fees. FrescoData also helped with data quality checks, consulting, and coordination with overseas providers, making the process a more efficient one-stop solution.