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Simplify work with integrated bots and apps
IHS Markit
New account onboarding is one of the most pressing challenges for the Financial Services industry. A lack of industry standardization, transparency and controls, manual communication, and changing requirements across institutions leads to 40+ days to onboard a new account and deploy capital.
IHS Markit built Izzy Bot in Symphony to centralize and facilitate the client onboarding process.
How it works
- Izzy Bot collates entity data, documents, validated KYC and tax profiles, legal amendment letters regulatory data, and an account’s ready to trace status
- Using AI and RPA, the bot pulls the client, institution, and onboarding data and documents into a Symphony chat room where teams can collaborate
- The result is a streamlined, secure onboarding process reducing risk, processing time, and costs.
- Users require access to Symphony and IHS Markit Counterparty Manager: Onboarding Accelerator