Project Description

Drawing up strategy for KYC remediation project

Enigma contributed to the Triodos bank client boarding team on a remediation project. Remediation means that the quality of the previous onboarding process is increased to meet the latest standards and requirements. In the context of stricter regulations concerning know your customer (KYC), the identity documents of existing customers are checked and they must re-identify themselves with a copy of the passport.


The big challenge is how Triodos can reach all these customers and ensure that they provide the necessary data (preferably digitally). The simplest customers to reach are the customers who regularly bank online or bank via their smartphone. These customers can be informed of the actions they need to take via messages in the online banking portal. The passport copies are preferably supplied digitally, so that the KYC software used by Triodos can verify whether the passport is genuine. However, there also appeared to be a large customer group that did not use internet banking or mobile banking, but was only informed about their products via paper. A striking number of elderly people turned out to be within this group. The preferred strategy is to also get this group of elderly people to an online environment, so that the normal KYC route can be followed. Although there is always a significant group that sticks to paper.


Triodos had already made an analysis of the different channels that customers use. We then looked at which products these customers purchase and whether the paper products in particular could be converted to online variants. This had an impact on Legal, Marketing, Product Management and Compliance. Based on the input of these departments, a strategy has been developed with different scenarios for this customer group regarding conversion to other products and KYC approach.


Enigma’s involvement was mainly in the formulation of the strategy. The developed strategy has been received by Triodos and is being implemented in the execution phase.

Jaco Booster
Jaco Booster
Managing Partner