Customer Interview - Currencies Direct

We focus on 2 things, our product and our customers. The platform has unique capability and is delivering huge value for customers. In this series of customer interviews, we ask about both the impact of the product together with the value added by the team during implementation and BAU.

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What is your name, who do you work for, and what is your role within your organisation?

Caroline Jones, Redpin / Currencies Direct, Head of Financial Crime Analytics And QA

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Were you involved in this project before or after signing the contract with Detected?

Post-Contract

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Can you share specific KYB challenges your organisation faced before implementing the Detected platform?

Corporate client onboarding had heavy reliance on manual assessment by our skilled compliance staff. This gave us comfort that complex and high-risk companies were being correctly risk assessed and onboarded in line with our regulatory obligations and internal policies, however this approach created friction for customers and increased our onboarding timelines.

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How has the Detected platform directly impacted your organisation? Please include specific examples and quantifiable outcomes (e.g., reduction in onboarding time, cost savings, increased compliance, impact on sales teams).

Detected has allowed us to optimise our onboarding journey for lower risk clients by providing us with the abilty to create risk-based onboarding journeys with integrated risk assessment.We were able to create bespoke risk assessments based on key risk indicators and our risk appetite whilst maintaining high standards. Detected has allowed us to reduce manual processing times whilst highlighting risk concerns to our skilled onboarding team who have been enabled to focus on enhanced due diligence investigation which has also been enhanced by the abilty to request additional information and documents directly via the Detected portal.

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Describe your experience working with the Detected team during the implementation phase. What stood out to you?

The Detected team supported us through every step of the system step up and risk assessment development. They were responsive to our feedback and a number of system enhancements were released before we even went live. It is great to collaborate with a company who are committed to delivering on customer feedback and providing new opportunities for customers to enhance their customer experience whilst proactively managing risk.

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Since implementation, how would you describe the support and engagement you've received from Detected during business-as-usual operations?

The Team continue to deliver support and are currently supporting us with phase 2 developments allowing us to refine our existing set up and develop additional journeys for managing new risk profiles across our portfolios.

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Would you recommend Detected to other organisations, and why?

I would recommend Detected to other businesses looking to enhance their corporate onboarding efficiency with integrated compliance solutions and configurable risk assessments. The system configurability ensures that you remain in control of the customer experience whilst ensuring that the risk assessment process remains aligned to company financial crime risk assessments and overall risk appetite in a continuously changing regulatory environment.

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