Client Onboarding Process

Operations & Procedures Client Services Last reviewed: 2025-10-05 Owner: Client Services

Purpose

This document defines the Bank's standardised client onboarding process, covering all stages from initial engagement to full product activation. The process is designed to deliver a seamless client experience while ensuring rigorous compliance with regulatory requirements, including Know Your Customer (KYC) and Anti-Money Laundering (AML) obligations.

Scope

This process applies to all new client relationships across the Bank's retail, corporate, and private banking segments. It encompasses the onboarding of individual clients, corporate entities, trusts, foundations, and other legal structures.

Onboarding Stages

Stage 1: Initial Engagement

  1. The client's first point of contact may be a Relationship Manager (RM), branch officer, or the digital onboarding portal.
  2. The RM or onboarding officer conducts an initial needs assessment to understand the client's banking requirements, expected transaction volumes, and product interests.
  3. The officer provides an overview of available products and services, fee structures, and the documentation required to proceed with account opening.
  4. A preliminary eligibility check is performed, including basic identity verification and a quick sanctions screening.

Stage 2: Documentation and KYC

  1. The client is provided with the applicable documentation checklist (individual or corporate) and the account opening application forms.
  2. The onboarding officer collects and verifies all required documentation. For digital onboarding, documents are uploaded through the secure portal and verified via the Bank's electronic verification service.
  3. The officer completes the Client Risk Assessment (CRA), assigning a risk rating based on the client's profile, jurisdiction, industry sector, and anticipated transaction patterns.
  4. For corporate clients, the officer maps the ownership structure and identifies all Ultimate Beneficial Owners (UBOs) holding 25% or more of the entity.

Stage 3: Compliance Review

  1. The completed KYC file is submitted to the Compliance team via the Onboarding Workflow System (OWS) for review and approval.
  2. Standard review timelines apply:
Risk RatingCompliance Review Timeline
Low Risk2 business days
Medium Risk5 business days
High Risk10 business days
  1. Compliance may request additional information or documentation (e.g., enhanced source of wealth documentation for High-risk clients). The onboarding officer is responsible for coordinating these requests with the client.
  2. Upon Compliance approval, the KYC file is marked as complete in OWS and the onboarding proceeds to product setup.

Stage 4: Product Setup and Activation

  1. The Account Opening Officer creates the client's Customer Information File (CIF) and account(s) in the Core Banking System (CBS).
  2. All requested products and services are activated, including debit cards, online banking, mobile banking, cheque books, and any linked facilities.
  3. The client receives a comprehensive welcome pack, including account details, terms and conditions, fee schedule, digital banking access credentials (delivered securely), and key contact information.

Stage 5: Post-Onboarding Follow-Up

  1. The assigned Relationship Manager conducts a follow-up contact with the client within ten (10) business days of account activation to confirm satisfaction, address any questions, and identify additional banking needs.
  2. A client satisfaction survey is issued 30 days after onboarding via email or the online banking portal.
  3. Survey results are compiled and reported quarterly to the Head of Client Services for service improvement analysis.

Onboarding SLAs (End-to-End)

Client TypeTarget Onboarding Time
Individual — Low Risk3 business days
Individual — Medium/High Risk7–15 business days
Corporate — Low Risk7 business days
Corporate — Medium Risk15 business days
Corporate — High Risk / Complex Structure20–30 business days

Digital Onboarding

The Bank offers a fully digital onboarding pathway for individual low-risk clients. This pathway utilises electronic identity verification (eIDV), biometric authentication, and secure document upload. Digital onboarding is designed to be completed within 24 hours for eligible clients, subject to successful automated checks.

Responsibilities

  • Relationship Manager: Client engagement, needs assessment, post-onboarding follow-up.
  • Onboarding Officer: Documentation collection, KYC preparation, CRA completion.
  • Compliance Team: KYC review, risk assessment validation, EDD for elevated-risk clients.
  • Account Opening Officer: CBS setup, product activation, welcome pack issuance.

Related Documents

  • New Account Opening Procedure
  • KYC and Customer Due Diligence Policy
  • Relationship Manager Assignment
  • Client Communication Standards

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