In the second video in this series, Jonathan Wright – conflicts and compliance team leader at Clyde & Co LLP – discusses how adding Compliance Catalyst has helped his firm speed up its due diligence and compliance processes and make them more efficient. In turn, this has allowed the company to offer a quicker service to its clients.
Jonathan states that Clyde & Co's rapid, multi-national expansion over the past several years led them to look for solutions to help effectively manage and leverage the increase in business across multiple regions. It was this need to streamline their processes that, according to Jonathan, played an instrumental part in his company's decision to start using Compliance Catalyst, which immediately offered them "time savings and cost savings as well".
Jonathan points out that one of the main ways that Compliance Catalyst helps expedite Clyde & Co's onboarding activities is by improving initial response times. He explains: "When we can match a client to a Bureau van Dijk Orbis report, [this] obviously gives us an out-of-the-box risk rating. We can then use our analysts to look at that, check that…" In turn, the fast delivery of risk ratings helps Jonathan's team make quicker decisions – something that not only increases their efficiency, but could also help to facilitate further growth for the company. After all, as Jonathan concludes, "the fact that we can spin round requests that much quicker – I think, ultimately, the clients are going to be really happy with that".
We'll continue to publish commentaries of these videos – such as the one below – over the next few weeks.