Business Analyst.
Customer account remediations
The challenge
In line with MiFID regulatory requirements, the entity needed to control and maintain up-to-date regulatory information and documentation for all its accounts held by both individuals and legal entities.
The strategy
After analyzing the volume and urgency of reviewing and remediating existing accounts and maintaining new accounts in the future, ARENA Financial Tech has developed an agile and detailed working method with a multidisciplinary team that, in collaboration with the Customer Operational Control department, can take on the management of the entity’s customer account remediations.
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The results
By outsourcing this service, we have been able to establish workflows that ensure our customer database is accurate, up-to-date, and complete. In addition to cost savings, this has increased the organization’s peace of mind by reducing regulatory risk.
Projects FAQs
What regulatory need does this bill address?
The project complies with MiFID requirements regarding the control, maintenance, and updating of information and documentation related to client accounts, whether for individuals or legal entities.
How is the work involved in resolving customer account issues organized?
At ARENA, we use an agile approach and a multidisciplinary team, working in collaboration with the Customer Operations Control department, to manage both the remediation of existing accounts and the maintenance of new sign-ups.
What has been achieved by outsourcing this service?
Workflows have been established to ensure that the customer database remains accurate, up-to-date, and complete, thereby contributing to greater operational efficiency and a reduction in regulatory risk.
