Charterhouse

Charterhouse Lombard boosts efficiency, both internally and for their clients, with SQR’s eKYC platform, driving growth and referrals.

Charterhouse Lombard looked to SQR to help streamline its KYC processes and to enhance efficiency in providing alternative solutions to its clients, potential and ongoing, as well as a cost saving compared with traditional certification methods.

Given the global nature of Charterhouse Lombard’s clients, offering flexible KYC options is essential for situations where traditional methods are impractical. This flexibility allows for checks and balances to be conducted, either in whole or a mix-and-match scenarios. Clients typically pay around £50 for document certification, with additional costs for scanning and postage or courier services. In these cases, SQR’s platform offers a cost-effective and quicker alternative.

The Challenge

Charterhouse Lombard faced significant challenges with their traditional client identity verification process. Its traditional manual procedures were not only time consuming but also prone to errors and potential fraud. Additionally, the monitoring and updating of information for Politically Exposed Persons (PEP) and sanctions required considerable manual effort, making the compliance process cumbersome. Given their diverse client base, Charterhouse Lombard sought a reliable solution to streamline their KYC processes and enhance efficiency.

The SQR Solution

After reviewing various KYC tools, Charterhouse Lombard discovered the solution in the SQR eKYC platform. This innovative platform leverages secure technology to verify and validate personal identity information, reducing the need for manual checks and reducing fraud risk. People expect smoother, cheaper ways to do business and SQR was a welcome solution.

The SQR platform accepts over 1,700 global ID documents, making it versatile and user-friendly for clients from various regions. Through the SQR application, clients can manage their profiles securely from a single, reusable account, easily proving their identity without sharing unnecessary sensitive data and always ensuring consent.

A Quick Overview

SQR delivers a platform with a robust verification process that reinforces trust with clients, ensuring accuracy and security in all Charterhouse Lombard processes. It also delivers:

Enhanced security features ensure that personal information remains confidential, reducing the risk of fraud.
An efficient onboarding process that has been streamlined, allowing clients to verify their identities effortlessly using their smart mobile devices.
Continuous monitoring and automatic updates for PEPs and sanctions significantly save time and resources.

The Outcome

Since implementing SQR’s eKYC platform, Charterhouse Lombard has seen remarkable improvements in operational efficiency and client satisfaction. This transformation has enhanced the firm’s reputation as a forward looking service provider, leading to significant growth in what has historically been a very traditional area of financial services.