FinTech KYC and AML
A compliance and onboarding platform to automate identity verification and anti-money laundering checks.
Industry
FinTech
Project Duration
7 Months
Location
Cyprus, Europe
Technology Stack
AWS, React, Node, S3, Lambda, Elasticsearch, Sumsub API, KAFKA
Our Role
1
Product Architecture
2
Compliance Consulting
3
Full-Stack Development
4
DevOps & Automation
5
Post-launch Support
Project Brief
Fintech firms increasingly face the challenge of balancing rapid customer onboarding with stringent regulatory compliance requirements such as KYC (Know Your Customer), AML (Anti-Money Laundering), and data privacy laws. Traditional onboarding processes often involve time-consuming manual verification of identity documents, background checks, and risk assessments, which can lead to user drop-offs and operational inefficiencies. Hence they needed a system to increase their efficiency.
Challenge Section
- Real-time verification latency
- Document fraud detection tuning
- Integrating with 3 different core banking platforms
Features
- Document verification with liveness check
- AML database screening
- Compliance reporting dashboard
- Integration with core banking systems
Process / Approach Section
We adopted a phased implementation approach:
Compliance Research: – Mapped local & international KYC/AML regulations
API Sourcing: – Integrated Sumsub for biometric verification
Security Layer:–Encrypted data handling + audit trails
QA – Security and performance testing
Solution Section
A cloud-based platform using:
Event-driven microservices for onboarding workflows
Secure integration with Sumsub API
ElasticSearch for fast retrieval of identity logs
Dashboard built in React for compliance team
Result Metrics Section
Onboarding time reduced from 48 hrs to 6 mins
Manual workload reduced by 80%
99.2% accuracy in identity matches
How Exato Helped the Client
Faster Onboarding
Automated identity verification workflows reduced manual review and accelerated user onboarding from hours to minutes.
Real-time Risk Flagging
Integrated AML screening tools to instantly detect and flag high-risk individuals or suspicious behaviors.
Biometric Security
Added facial recognition and liveness detection for fraud-resistant user validation.
Audit-ready Reporting
Delivered downloadable, filterable compliance logs for audits and regulatory reporting.
Core Banking Sync
Built secure connectors to sync KYC outcomes with 3 different banking systems via scheduled jobs.
Event-driven Architecture
Used Kafka to trigger real-time updates and alerts across departments based on user verification status.
In a dynamic business environment, scalability is crucial. IT services provide the flexibility to scale up or down your resources based on changing business needs. Cloud services, for instance, allow seamless expansion of storage and computational power
Serana Belluci
Product Designer
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Technology We Used
