Defining the decisions the market assessment needed to support
Our client had a clear ambition to modernise the registry, but needed greater clarity on the requirements and operating model the future platform would need to support. BeyondFS worked with the core user group to identify the areas of the KYC and KYB process where manual effort, cost and data risk were most concentrated.
This produced four priority use cases that anchored the market assessment in real operating needs. These included opportunities to reduce manual document collection, improve information extraction, increase workflow automation and apply more consistent decision support across the process.
By establishing these use cases early, the assessment gave the client a practical basis for comparing vendor capability against the problems the future platform needed to solve.
Creating a structured view of the vendor market
BeyondFS reviewed around 40 vendors across KYC and KYB, with a focus on technology, data and automation capability. Each vendor was assessed against agreed criteria covering functional coverage, scalability, integration capability and future innovation potential.
This created a consistent basis for comparison and gave the client a clearer view of which vendors were most relevant to the priority use cases and future platform options.
Testing vendor capability against practical operating needs
The initial market scan was narrowed to 15 vendors for deeper engagement, including sales calls and product demonstrations. BeyondFS used these sessions to assess how far each provider could address the priority use cases and support the client’s ambition for a more efficient, automated registry.
The assessment considered how third-party data sourcing, AI-enabled OCR, robotic process automation and rules-based decisioning could reduce manual checks, improve data completeness and reduce the operational effort associated with maintaining KYB information.
Setting out a route to the next stage
BeyondFS produced a detailed market landscape report, a senior executive summary and a phased roadmap for next steps. The roadmap set out how the client could move from market assessment into vendor selection, including the implications of enhancing the current platform, rebuilding capability or partnering with external providers.
The work also considered procurement challenges linked to engaging vendors outside the largest and most established third-party providers. This helped the client consider innovation while making procurement and governance considerations explicit.
