FINTRAIL helps a leading global cryptocurrency exchange to resolve backlogs, meet regulatory expectations and free up internal resources

Context

The growth of cryptocurrency and its surge in popularity has seen many new entrants to the market and established crypto exchanges experiencing unprecedented growth. This brings new risks, threats and challenges which continue to develop at pace.

FINTRAIL worked with a leading global cryptocurrency exchange to assist it with KYC challenges associated with the rapid growth of the business, and advise on how to improve its customers’ KYC experience.

Solution

FINTRAIL provided subject matter expertise to advise on a number of KYC enhancements, and designed and ran a large-scale remediation project:

• Reviewing and enhancing the European onboarding journey for retail customers
  FINTRAIL provided a large team to review the existing onboarding journey and identify opportunities to improve customer experience whilst maintaining regulatory compliance.

• Reviewing the global onboarding operations for corporate customers
  FINTRAIL reviewed the regulatory compliance of the onboarding journey, as well as operational efficiencies.

• Planning and scoping the remediation of seven million European customer files
  FINTRAIL drafted a full remediation plan including capacity planning, management information for the remediation process, scope and prioritisation, and operational considerations. 

• Providing expert analyst resources to complete a backlog of onboarding files for complex business customers across five different countries.

Outcome

✓ Resolution of the existing backlog of onboarding files
✓ Meeting regulatory expectations
✓ Freeing up internal resources for higher priority tasks

Why FINTRAIL?

FINTRAIL’s DNA is based around our experience with leading FinTechs, crypto-exchanges and other financial institutions - from start-ups to established market leaders. This means we are uniquely placed to support customers with transformation and growth objectives.

We have conducted numerous regulatory mapping and KYC projects, balancing the design of agile processes and smooth customer experience with regulatory obligations and group policy, and managing diverse stakeholders’ expectations.

Get in touch to find out more about our services