Corporate Customer Digital Onboarding – Due Diligence Review

10xDS completed an engagement for Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) for a digital onboarding app for corporate customers for a leading Islamic Bank in Bahrain. The Central Bank of Bahrain (CBB) mandates all the affiliated banks to comply with the CDD and EDD frameworks within the context of digital onboarding for corporate customers. 10xDS team helped in evaluating Compliance with regulatory standards to ensure that the digital onboarding process rigorously adheres to the regulatory guidelines set forth by CBB. The team also assessed Security and Privacy Protocols by examining the robustness of data protection and cybersecurity measures within the app to safeguard client information against emerging digital threats. The engagement helped the bank to enhance the compliance requirements of the digital onboarding process, at the same time offering the best customer experience.