Comprehensive Data-driven Onboarding with azakaw

Customer

Lakemore Partners

Industry

Asset Management

Intro

Lakemore Partners, a leading asset management firm in the Dubai International Financial Centre (DIFC), faced challenges with manual KYC processes and managing compliance across various stakeholders. Through their existing relationship with j. awan & partners, Lakemore Partners was introduced to azakaw to streamline their operations. We spoke with Tanya James, Head of Compliance at Lakemore Partners, to understand how azakaw has impacted their compliance processes.

Challenge

Before adopting azakaw, Lakemore Partners handled KYC and compliance tasks manually, storing critical records in shared folders. This made it difficult to ensure continuity, particularly with the turnover within the outsourced compliance team. “With manual processes, it was difficult to maintain accurate client lists and ensure smooth transitions when new compliance officers joined,” Tanya explained. “We had over 150 clients, 40 vendors and 20 employees in the DIFC alone and the manual tracking was simply not sustainable.”

Solution

To address these challenges, azakaw was implemented to automate Lakemore’s compliance processes. “azakaw has been a very useful visual tool for us,” Tanya noted. “At any time, I can easily see all our stakeholders, including clients, employees, vendors and business partners, and their associated risk levels.” The platform has allowed Lakemore Partners to centralise its compliance management on one dashboard, improving oversight across its operations.

User Experience:

Tanya highlighted that while the onboarding process has been greatly improved, there is still room for enhancement in managing the periodic refresh of client information. Balancing the DIFC and fund administrator requirements has been challenging, but as an early adopter of azakaw, Lakemore Partners has played a crucial role in shaping new features and improvements. Tanya highlighted azakaw’s customer support, especially in the early stages, with the team being particularly responsive in light of some turnover.

Outcome:

Despite some initial implementation challenges, Lakemore Partners now operates with a more simplified and cohesive compliance process. azakaw’s dashboard provides real-time insights into compliance risks and allows for quick identification of gaps. Although certain configurations took longer than expected, the partnership between Lakemore Partners and azakaw has led to a more organised and responsive compliance workflow. Tanya remains optimistic that ongoing improvements to azakaw will continue to benefit both Lakemore Partners and future users of the platform.

Customer

Lakemore Partners

Industry

Asset Management

Intro

Lakemore Partners, a leading asset management firm in the Dubai International Financial Centre (DIFC), faced challenges with manual KYC processes and managing compliance across various stakeholders. Through their existing relationship with j. awan & partners, Lakemore Partners was introduced to azakaw to streamline their operations. We spoke with Tanya James, Head of Compliance at Lakemore Partners, to understand how azakaw has impacted their compliance processes.

Challenge

Before adopting azakaw, Lakemore Partners handled KYC and compliance tasks manually, storing critical records in shared folders. This made it difficult to ensure continuity, particularly with the turnover within the outsourced compliance team. “With manual processes, it was difficult to maintain accurate client lists and ensure smooth transitions when new compliance officers joined,” Tanya explained. “We had over 150 clients, 40 vendors and 20 employees in the DIFC alone and the manual tracking was simply not sustainable.”

Solution

To address these challenges, azakaw was implemented to automate Lakemore’s compliance processes. “azakaw has been a very useful visual tool for us,” Tanya noted. “At any time, I can easily see all our stakeholders, including clients, employees, vendors and business partners, and their associated risk levels.” The platform has allowed Lakemore Partners to centralise its compliance management on one dashboard, improving oversight across its operations.

User Experience:

Tanya highlighted that while the onboarding process has been greatly improved, there is still room for enhancement in managing the periodic refresh of client information. Balancing the DIFC and fund administrator requirements has been challenging, but as an early adopter of azakaw, Lakemore Partners has played a crucial role in shaping new features and improvements. Tanya highlighted azakaw’s customer support, especially in the early stages, with the team being particularly responsive in light of some turnover.

Outcome:

Despite some initial implementation challenges, Lakemore Partners now operates with a more simplified and cohesive compliance process. azakaw’s dashboard provides real-time insights into compliance risks and allows for quick identification of gaps. Although certain configurations took longer than expected, the partnership between Lakemore Partners and azakaw has led to a more organised and responsive compliance workflow. Tanya remains optimistic that ongoing improvements to azakaw will continue to benefit both Lakemore Partners and future users of the platform.