KYC update automation

10xDS has successfully partnered with a leading bank in Saudi Arabia to automate the process of updating Customer ID and Commercial Registration Expiry Dates and handling Name Changes in Customer IDs, significantly improving operational efficiency and data accuracy. The surge in manual requests had overwhelmed banking staff, leading to inefficiencies, errors, and compliance risks. To address this, 10xDS implemented an advanced automation solution where users upload an Excel file containing required data, triggering a bot that seamlessly updates information across the bank’s core systems. The bot logs into the Anti-Money Laundering System to update Customer ID and Commercial Registration Expiry Dates, Name, Date of Birth, and Country Details, then accesses the Core Banking System to update records while ensuring compliance with regulatory requirements. It further updates the Signature Management System to reflect changes in linked accounts. Upon completion, a detailed report is generated and shared with the user, ensuring transparency and accuracy. This automation has led to an 80% reduction in man-hours, 100% accuracy, and minimal manual intervention, improving compliance, reducing human errors, and allowing bank employees to focus on higher-value tasks, marking a significant step toward digital transformation in banking operations.