Webinar recap: Enhancing KYC Onboarding and Lifecycle Management in Asset Servicing

In today’s regulatory environment, financial institutions are under increasing pressure to manage Know Your Customer (KYC) obligations with greater efficiency and precision. Nowhere is this more evident than in the asset servicing sector, particularly within complex regulatory hubs such as Luxembourg.

On 24 April 2025, Finologee’s experts Jonathan Prince and Stefan Kirsch hosted an insightful webinar focusing on common challenges institutions face during KYC onboarding and lifecycle management and demonstrated how digital tools such as KYC Manager can help resolve them.

Common pain points in KYC

Despite the advancements in the field of financial technologies, many organisations continue to rely heavily on manual processes. These not only slow down client onboarding, but also introduce the risk of errors, duplication and non-compliance. Four major concerns were discussed: increased regulatory scrutiny, high levels of manual work, overall complexity and prolonged onboarding durations with negative implications on user experience.

For many though, the lack of integration between KYC platforms and broader business systems also remains a core issue when it comes to innovating processes. As revealed during the webinar, 55% of financial firms view system integration as a significant hurdle.

Unlocking efficiency with KYC Manager

In an effort to effectively tackle these issues, Finologee introduced the KYC Manager platform, which offers a centralised and modular approach to KYC and lifecycle management.

The tool is designed to support the full client journey (from onboarding to remediation, through client lifecycle management ), all while connecting seamlessly with internal systems like CRMs, core banking solutions and data repositories via APIs.

The platform is optimised for high-capacity teams thanks to its complex workflow management capabilities and operability across jurisdictions. Among the platform’s key features are:

• Automated client outreach for client data collection
• Real-time risk scoring and monitoring based on customisable matrices
• Third-party integrations for ID verification (e.g. IDNow), AML screening (e.g. Dow Jones) and corporate data enrichment (e.g. Dun & Bradstreet)
• Role-based dashboards for compliance teams, intermediaries and end clients
• Secure client portals with dynamic questionnaires and document upload workflows

During the webinar, Stefan Kirsch delivered a live demonstration showcasing how users can configure workflows, invite clients to provide information securely and automate many compliance tasks. The platform also provides a full audit trail and historical view of dossiers, particularly useful for regulatory reporting and internal reviews.

Emerging trends and industry shifts

Beyond platform capabilities, the discussion highlighted two notable trends. First, a growing number of institutions are mutualising KYC efforts across group entities, allowing them to share verified data and reduce duplicated work. An notable example in this context would be as centralised framework to perform KYC on behalf of all its subsidiaries, effectively reducing redundant compliance operations across multiple entities.

The second trend is a clear shift toward aggregating client data from third-party providers rather than requesting it repeatedly from clients. This not only improves operational accuracy and efficiency, but also reduces the compliance burden on clients, ensuring data is kept up to date and minimising the risk of human error.

Towards simplified compliance

KYC Manager’s modular approach and strong integration capabilities make it a compelling option for organisations looking to modernise their KYC and compliance operations. As the regulatory landscape evolves, the ability to adapt quickly and collaborate effectively will be essential.

As financial players continue to adapt to tightening regulations and evolving client expectations, tools like KYC Manager offer a clear path forward. By eliminating repetitive manual tasks and enabling smarter data management, the platform enhances compliance while improving operational efficiency, helping to restore focus on what matters most: building secure, long-term client relationships.