Delta Capita, a globally active provider of financial technology or FinTech, has marketed a client lifecycle management (CLM) platform that helps firms fulfil their AML duties and know their customers.

With technological and operating costs typically running into the millions of pounds per year, banks have traditionally deployed thousands of people in many locations to carry out 'know your customer' (KYC) tasks. Delta is now touting a new AI/machine learning software product, the CLM platform, which it calls Karbon, as a cheap alternative to this. Karbon, it claims, speeds up the process of gathering information and making decisions from days to minutes. It assesses information about clients in an automated way and offers configurable workflow, rules and screening.

Commenting on the new service, Gary McClure, a former HSBC executive who is now the head of Delta Capita’s CLM business, said: “Until now, a typical  bank analyst has spent far too much time trying to gather information on the suitability of current and potential clients. This is time that could otherwise be better spent doing more valuable tasks.”

Delta Capita Group recently secured a US$150 million investment from Prytek Holdings, enabling it to expand.

“Our new Karbon platform structures data in way that means analysts can focus their efforts on carrying out due diligence on company data.  This means that they will be providing far more value-add, instead of spending much of their time analysing and inputting data into a system.”

Karbon is now operational.