How a Leading South African Bank Utilizes Microsoft Dynamics CRM for Client Remediation

CRM is a powerful tool enabling organizations to not only know their customers but also improve customer information management and business processes. As a CRM delivery lead I see the benefits that a CRM system enables in organisations and how it permits increased productivity and efficiency. Below is an example of a project implemented by Mint Management Technologies that delivered client remediation (improving the know-your-client and compliance processes) for an organisation in the financial services industry.

Project Scope

A leading South African banking institute utilised Microsoft Dynamics CRM to pull information from various systems into one front-end and enable speedy remediation of clients. The approach ensured compliance with the national government's Financial Intelligence Centre Act (FICA) in terms of client identification and verification and record keeping.

This project provides a glimpse into the client-and-record management capabilities of Dynamics CRM.

The Challenge

The South African government introduced the Financial Intelligence Centre Act (FICA) in 2001 to combat money laundering. Since then, the South African Reserve Bank (SARB) has conducted regular compliance audits on banks.

As a result, banking institutes require IT management systems that will enable full client remediation to ensure the protection and validation of client data as well as the avoidance of hefty fines following non-compliance.

To comply with these requirements and ensure full remediation in terms of client identification, verification, and record keeping, an IT solution that tracks the status and level of client compliance toward full remediation of all Computer Intelligence Systems for both Retail-and-Central Intelligence is needed.  

The system should ...