Self-Service Client Onboarding Through Requirements Deduplication
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Solution Overview
Problem
Current wholesale client onboarding processes are fragmented, manual, and inconsistent, leading to excessive duplicate information requests, confusing product offerings, varying workflows across intake channels, and a lack of end-to-end process transparency, with a heavy reliance on manual forms and data re-entry.
Innovation Solution
A self-service client onboarding platform utilizing AI/ML for seamless digital outreach, data reuse, aggregation, and deduplication, combined with distributed ledger technology for secure data sharing and smart contracts to automate tasks, and a plugin framework for customized onboarding processes.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If manual forms and data re-entry are used across multiple groups, then data collection can be performed, but processing time is prolonged and client experience deteriorates
Solution Approach 1:
The patent merges data collection across multiple organizational groups (KYC, credit, compliance, etc.) into a single unified onboarding platform. This consolidation eliminates the need for separate manual forms and data re-entry processes, allowing all groups to access and process client data through one integrated system, thereby significantly reducing processing time and improving productivity.
Solution Approach 2:
The system performs preliminary data aggregation and validation during the initial onboarding intake phase. By collecting and standardizing data upfront in a unified format, the system eliminates the need for subsequent manual data re-entry and transformation across different groups, reducing overall processing time and improving efficiency.
2Adaptability or versatility
If multiple separate systems are used for different onboarding groups, then specialized processing can be achieved, but system complexity increases and data consistency deteriorates
Solution Approach 1:
The patent implements a universal onboarding platform that serves multiple organizational groups (KYC, credit, compliance, etc.) through a single multi-functional system. The platform maintains specialized processing capabilities for each group while consolidating them into one unified architecture, thereby reducing system complexity and improving data consistency without sacrificing group-specific functionality.
Solution Approach 2:
The system segments different onboarding requirements and processing logic into modular components within the unified platform. Each organizational group has its own processing module that can be independently configured and maintained, allowing specialized functionality while maintaining overall system integration and data consistency.
3Quantity of substance
If duplicate information requests are sent across groups, then comprehensive data collection can be achieved, but client burden increases and satisfaction decreases
Solution Approach 1:
The patent merges data collection requests from multiple groups into a single unified intake process. The system aggregates all required information needs from KYC, credit, compliance, and other groups into one comprehensive set of client inputs, eliminating duplicate requests and reducing client burden while maintaining complete data collection.
Solution Approach 2:
The unified onboarding platform acts as an intermediary between the client and multiple organizational groups. It consolidates data requirements, collects information once from the client, and then distributes and processes the data across all relevant groups, thereby reducing client effort while ensuring comprehensive data collection.
4Adaptability or versatility
If manual processes are used for onboarding, then flexibility in handling complex cases can be maintained, but process transparency and end-to-end visibility are reduced
Solution Approach 1:
The patent implements automated feedback mechanisms that provide real-time visibility into the onboarding process status across all groups. The unified platform tracks and communicates process milestones, approval statuses, and fulfillment progress to both clients and internal stakeholders, maintaining process transparency while preserving flexibility for handling complex cases through configurable workflows.
Data Source
AI summary
Systems and techniques for are described herein. An application programming interface (API) gateway receives an onboarding request from a self-service onboarding portal. Requirements data is queried for onboarding requirements. The onboarding requirements are deduplicated based on a common taxonomy to create a standardized requirements set. User interface elements are selected for presentation in a user interface based on the standardized requirements set. The user interface is presented in the self-service onboarding portal. An onboarding workflow is executed across internal systems to fulfill the requirements using input received from the user interface. A status of the onboarding request is returned to the self-service onboarding portal.