- Analytics & Modeling - Process Analytics
- Cybersecurity & Privacy - Security Compliance
- Buildings
- Finance & Insurance
- Procurement
- Quality Assurance
- Leasing Finance Automation
- Time Sensitive Networking
- Testing & Certification
Jyske Bank is one of Denmark’s largest banks, serving more than 600,000 customers. The bank has expanded through mergers and organic growth. It operates in a highly regulated environment, with strict anti-money laundering regulations and fraud prevention practices. The bank is committed to providing a frictionless user experience to its customers, while also ensuring compliance with international regulations. Jyske Bank performs the Know Your Customer process for more than 20,000 customers, aiming to provide a better customer experience and efficient handling of tasks.
Jyske Bank, one of Denmark’s largest banks, was facing challenges in adhering to strict anti-money laundering regulations and fraud prevention practices. These regulations added pressure on banking processes and the employees who worked to ensure compliance. The bank was also striving to provide a frictionless user experience to its customers, freeing them from tedious and repetitive forms and tasks. The bank was required to perform a fraud-prevention process known as 'Know Your Customer' under the regulation of the European Banking Authority and the Danish Financial Supervisory Authority. This process created several extra steps and tasks for customers, eroding their experience while generating additional administrative work for employees.
To manage the process more efficiently and minimize the impact on customers, Jyske Bank turned to process automation. They built a process where customers could provide the bank with the necessary information through a self-service channel, combined with sufficient automated and manual control to ensure data quality. Camunda was chosen to power this process, orchestrating all the necessary information to the customers with electronic or physical letters, and following up on customers who didn’t respond or didn’t wish to participate. Information received from the self-service channel was then directed to the relevant employee, providing efficient handling through user tasks, alongside automatically updating relevant back-office systems. Camunda empowered Jyske Bank to model, design and orchestrate each step of the Know Your Customer process precisely.
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