Elevating KYC Efficiency with Azakaw

Customer

RAED Ventures

Industry

Venture Capital

Intro

RAED Ventures, a venture capital firm, sought a comprehensive compliance platform to meet their unique business needs. As existing clients of j. awan & partners, a group subsidiary of azakaw, they were familiar with the benefits of outsourced compliance services but needed a more tailored, unified and automated approach for their KYC processes.

Challenge

Prior to using azakaw, RAED Ventures faced significant challenges in their KYC operations. The ongoing monitoring required for regulatory compliance was cumbersome, with documents being exchanged via email creating confidentiality risks and inefficiencies. Aashish Dhaawan, Head of Compliance and Risk, emphasised the need for a secure system to streamline compliance. He stated, “I was keen on exploring a new approach that could adapt to the comprehensive needs of our operations.” Earlier the KYC process was quite cumbersome as we had to send the documents via email, which also creates a confidentiality issue. With azakaw, we are just extending the links and inviting our clients to register themselves and upload the documents simultaneously.

Solution

By adopting azakaw, RAED Ventures transformed their KYC process

• Streamlined Onboarding: Clients now register and upload documents securely through azakaw, significantly reducing the risk of document loss and improving confidentiality. Aashish noted, “The ability to securely invite clients to upload their documents has transformed our onboarding process.”>

• Single Source of Truth: azakaw serves as a central repository for all compliance-related documentation, ensuring that both Aashish and his colleague, the MLRO (Money Laundering Reporting Officer), have access to the most up-to-date information and can conduct audits in a more efficient manner.

• Enhanced Professionalism: azakaw’s form factor allowed RAED Ventures to customise the KYC process with their branding, creating a more personal and professional image in the eyes of clients and investors. 

User Experience:

While there have been areas for improvement, the collaboration with azakaw has been very beneficial for RAED Ventures operations, even when challenges are encountered, the commitment from the azakaw team has been commendable. azakaw is continuously working to improve the support structure to facilitate quicker resolutions and ensure a smoother experience for all.

Outcome:

azakaw’s customisation options, aligned with the firm’s branding, have elevated their professional image. “Clients have commended us for the fact that we have moved from a conventional way of onboarding to a much better way,” Aashish shared, indicating a successful transition.

Closing note: The creation of this success story has also generated feedback for change. We are committed to working closely with RAED Ventures and all of our users to continuously refine the platform, ensuring it aligns perfectly with their objectives.

Elevating KYC Efficiency with Azakaw

Customer

RAED Ventures

Industry

Venture Capital

Intro

RAED Ventures, a venture capital firm, sought a comprehensive compliance platform to meet their unique business needs. As existing clients of j. awan & partners, a group subsidiary of azakaw, they were familiar with the benefits of outsourced compliance services but needed a more tailored, unified and automated approach for their KYC processes.

Challenge

Prior to using azakaw, RAED Ventures faced significant challenges in their KYC operations. The ongoing monitoring required for regulatory compliance was cumbersome, with documents being exchanged via email creating confidentiality risks and inefficiencies. Aashish Dhaawan, Head of Compliance and Risk, emphasised the need for a secure system to streamline compliance. He stated, “I was keen on exploring a new approach that could adapt to the comprehensive needs of our operations.” Earlier the KYC process was quite cumbersome as we had to send the documents via email, which also creates a confidentiality issue. With azakaw, we are just extending the links and inviting our clients to register themselves and upload the documents simultaneously.

Solution

By adopting azakaw, RAED Ventures transformed their KYC process

• Streamlined Onboarding: Clients now register and upload documents securely through azakaw, significantly reducing the risk of document loss and improving confidentiality. Aashish noted, “The ability to securely invite clients to upload their documents has transformed our onboarding process.”>

• Single Source of Truth: azakaw serves as a central repository for all compliance-related documentation, ensuring that both Aashish and his colleague, the MLRO (Money Laundering Reporting Officer), have access to the most up-to-date information and can conduct audits in a more efficient manner.

• Enhanced Professionalism: azakaw’s form factor allowed RAED Ventures to customise the KYC process with their branding, creating a more personal and professional image in the eyes of clients and investors.

User Experience:

While there have been areas for improvement, the collaboration with azakaw has been very beneficial for RAED Ventures operations, even when challenges are encountered, the commitment from the azakaw team has been commendable. azakaw is continuously working to improve the support structure to facilitate quicker resolutions and ensure a smoother experience for all.

Outcome:

azakaw’s customisation options, aligned with the firm’s branding, have elevated their professional image. “Clients have commended us for the fact that we have moved from a conventional way of onboarding to a much better way,” Aashish shared, indicating a successful transition.

Closing note: The creation of this success story has also generated feedback for change. We are committed to working closely with RAED Ventures and all of our users to continuously refine the platform, ensuring it aligns perfectly with their objectives.