Client Intake: Workflows for Service and Compliance
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    Title*Client Intake: Workflows for Service and Compliance
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    DetailPosted 15th October

    As firms move towards a more digital-first way of working, the intersection between compliance and client intake is put into greater focus. Compliance with EU and UK GDPR, the Money Laundering Act, and other regulatory requirements require today’s firms to document controlled routines and processes. At the same time, the need for improved efficiency means that firms need to strike the right balance between being able to quickly onboard new clients and effectively manage risk. 

    One of the most effective ways to ensure compliant, efficient and standardised client onboarding risk management is through automating the client intake process. By using automated workflows to embed compliance policies into a standardised client onboarding process, firms can speed up client acceptance and greatly reduce risk. 

    Why automate client intake and acceptance?

    Previously, firms have relied on paper-driven processes and a formal handshake to finalise client acceptance. However, in today’s work-from-anywhere world driven by the increasing need for data privacy and protection, law firms must be able to bring greater efficiency, transparency and structure to the client acceptance process. 

    Traditionally, the client onboarding process has relied on manual and time-consuming steps that require information to be entered and cross-reference across multiple systems. When lawyers and staff rely on email-centered and other manual processes, there are likely to be missed steps and simple data entry mistakes - which can result in complex compliance issues. 

    By automating the client intake and acceptance process and bringing it online, firms can not only improve quality by automating specific activities and approvals, but also mitigate risk by embedding custom compliance frameworks into the process and documenting every step automatically.

    Streamline the process with automated workflows

    Already forward-thinking firms are reaping the benefits of an automated client intake and acceptance process. Digitising manual processes - including client intake forms - improves the experience for both lawyers and clients, while also providing a verified audit trail. 

    A great example is Simonsen Vogt Wiig’s risk-based client onboarding solution. The solution, developed in partnership with Sysero partner PSA Consulting, leverages Sysero’s cloud-based workflow automation tools to enable the firm to fully automate and manage the client onboarding process. The workflow includes a client scoring system that formalises the evaluation of new business opportunities based on the firm’s pre-defined set of rules, including professional risk and GDPR compliance. A risk profile is then created for each new client, with high-risk clients automatically routed for further review. 

    The right workflow automation solution can help you design and implement a completely customised digital onboarding process:

    • Define what information is required to capture from your client and the details needed to create a risk profile
    • Automatically check for potential conflicts and verify beneficial owners
    • Create workflows for risk assessment, escalation and declaration
    • If risk is deemed too high, create workflows for notifying prospective clients of the firm’s decision and documenting the decision

    Automating client intake with Sysero

    As the need for compliance, auditing, data security and efficiency continues to mount, Sysero’s workflow solutions offer firms a way to transform the client intake process and ensure compliance protection. To learn more about Sysero’s Know Your Client solution, check out live demo or get in touch to schedule a personalised demo.  

    SummaryOne of the most effective ways to ensure compliant, efficient and standardised client onboarding risk management is through automating the client intake process. By using automated workflows to embed compliance policies into a standardised client onboarding process, firms can speed up client acceptance and greatly reduce risk.
    Resource TypeBlog
    CategoryKnowledge Automation
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