Automating Attorney Profiles for Enhanced KYC Compliance

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Automating Attorney Profiles for Enhanced KYC Compliance

KYC Solution Case Study

Problem Statement

A U.S. online legal marketplace struggled with inefficiencies and errors from manually updating attorney profiles. Diverse state bar website structures and data duplication further complicated accuracy and integration. The client needed an intelligent agent system for real-time, accurate information, enhanced compliance and due diligence, better decision-making, and improved client service.

Our solution

The project encompassed the following key components:

Advanced Web Scraping: Our data engineering team instilled web scraping techniques which includes site analysis, crawler development, testing and deployment to automate the extraction of attorney data from each state bar website.
Centralized Data Integration: We created a centralized database where the scraped data was aggregated and seamlessly integrated with our client’s existing attorney profiles. This ensured a comprehensive and up-to-date repository of attorney information.

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Data Cleansing and Deduplication: We implemented algorithms to cleanse and standardize the collected data, eliminating inconsistencies, and ensuring accuracy and reliability. Then we developed algorithms to compare the scraped data with existing profiles in our client’s database. This helped to remove the duplicate attorney data that was collected.
Rigorous Quality Assurance: We established a robust two-tier data quality assurance process to ensure accuracy and compliance. The Process Excellence Group (PEG) employed automated algorithms to assess data accuracy, delivering only compliant batches that meet the agreed Service Level Agreement (SLA) to the clients. In case of any discrepancies, the data underwent rework to rectify the issues and ensure high-quality output.

Benefits

Enhanced Accuracy and Quality: Achieved improvement in data accuracy through effective cleansing and standardization, maintaining a 95% accuracy rate in compliant data batches and meeting SLA requirements.
Improved Efficiency and Real-Time Updates: Reduced data collection time by 80%, enabling focus on higher-level analysis and decision-making while providing accurate, real-time updates that enhance compliance and due diligence.
Competitive Edge and Client Service: Streamlined operations and improved client service, supporting regulatory compliance and offering a significant competitive advantage in the market.