Arachnys + Unqork: KYC in a Customer Experience-Focused Economy

In a finance industry Tech Talk, Arachnys and Unqork discussed KYC pain points and the new approach they are taking to market to address these issues and transform the experience for customers.

David Buxton, CEO and Founder of Arachnys, joined Unqork’s VP of Alliances & Ecosystems Christian Barrera and Kayvan Parvin, a Client Partner on the Financial Services team, in a recent Tech Talk to discuss optimizing “know your customer” (KYC) workflows.

Banks, financial institutions, and fintechs are balancing the need to scale  their business with the need to scale due diligence. Technology can address these challenges, but enterprise development can be complicated—particularly when using a traditional code-based approach to development. 

An overview of the key KYC pain points the finance industry is grappling with.

“That’s one of the things I really admire about what Unqork has done because with such a flexible platform, it really lowers a lot of the barriers to those conversations and those discovery purchases.”

“Thinking about customer problems in technicolor rather than in black and white has been my biggest learning,” David explained. “Even just seeing how technology fits into your ecosystem is a difficult challenge. That’s one of the things I really admire about what Unqork has done because with such a flexible platform, it really lowers a lot of the barriers to those conversations and those discovery purchases.”

Arachnys provides frictionless and intelligent KYC and anti-money laundering (AML) data to onboard and monitor any business, fast. By combining Arachnys’ robust datasets with Unqork’s no-code application platform, enterprises are able to optimize and automate their KYC function at scale and accelerate time-to-market.

Bringing efficiency to KYC with institutional onboarding

The finance industry is no stranger to corporate and organizational restructurings. Unfortunately, this often leads to siloed legacy systems, which means organizations must find ways to build workflows between them. Often, companies achieve this with inefficient human-in-the-loop activities.

“It’s still very manual in terms of KYC, both onboarding and for maintaining clients,” Kayvan added. “There’s a lot of manual back-and-forth with clients … resulting in a poor client experience, poor employee experience, and a lot of costly errors.” 

The Arachnys-Unqork solution overhauls this status quo with an Institutional Onboarding workflow built within Unqork and powered by Arachnys’ data. It minimizes manual activities, allows for seamless integrations of data sets—“API integration is a configuration activity within Unqork,” assured Christian—and offers customers powerful self-service tools to speed up previously burdensome onboarding processes.

Watch Kayvan demo the solution.

For more information on our partnership, watch the full webinar here.

See how Unqork and Arachnys can be used at your company and schedule a personalized demo with one of our solutions experts today. Sign for the Unqork newsletter to learn more about the potential of no-code.