How to successfully implement a SaaS KYC platform
A guide to successful KYC/ CLM SaaS implementation
Contents
- KYC implementation
- 1. Technology architecture for KYC SaaS implementation
- 2. Data and reporting requirements for KYC SaaS
- 3. Policy mapping for KYC and CLM implementation
- 4. Process review for KYC SaaS and automation
- 5. Building the right team for KYC transformation
- Next steps
- Frequently asked questions
- Resources
- Contact us
Frustrated with your current KYC platform? Deciding whether to build or buy? Planning a migration or rethinking your processes?
Implementing a SaaS KYC platform can feel daunting—but success is within reach.
Despite promises of 'ready-to-go' solutions, the reality is often far more complex. Many financial institutions have invested millions and years of effort, only to encounter delays, flawed outcomes, and unmet expectations.
True success requires more than just choosing the right platform. It demands a thorough review of your entire KYC and CLM operating model—from strategy and processes to policy and technology. Without this foundation, even the best software may fall short.
If you need honest, expert advice on getting it right, you have come to the right place. At BeyondFS, we’ve helped complex financial institutions navigate these challenges successfully. Below we share practical insights to help you achieve a seamless, effective implementation.
KYC Implementation
Transform your KYC Target Operating Model (TOM)
Implementing a SaaS KYC or CLM platform is more than a tech upgrade—it’s a full-scale transformation of your KYC operating model. Success depends on aligning strategy, processes, policies, technology, people, and data.
To achieve seamless integration, focus on key areas like vendor selection, data source alignment, and balancing global and regional policy frameworks. Addressing these fundamentals ensures your organisation maximises the platform’s potential, driving both compliance and operational efficiency.
Our approach
Our end-to-end approach to KYC/CLM transformation
At BeyondFS we have developed and refined a reliable end-to-end process to deliver successful KYC/CLM transformation programmes. From Diagnose to Design, Shape, Execute, and Sustain/Assure, we provide a structured framework to guide every stage of your SaaS KYC implementation. Wrapped around this process are our change management principles: start by envisaging success, plan for continued quick wins and keep self-sustainability in mind. While the process workstreams are unique to every programme, the core elements of any operating model transformation programme are: Technology architecture and integrations, Data and reporting, Policies, Processes and People. We’ll explore these below.
Change management processes
| Diagnose | Design | Shape | Execute | Sustain/Assure | |
| 1. Tech | Understand the current state and integrations | Create the blueprint; Vendor selection | Create implementation roadmap | Training and rollout | Maintenance and governance |
| 2. Data | Review the data model | Map target data models; Confirm data governance | Data migration strategy and planning | Migrate data and perform uplifts | Ongoing migration and ongoing review |
| 3. Policy | Review current policies | Design target policy architecture | Map target policy architecture to SaaS approach | Embed policy rules in solution | Ongoing governance and review |
| 4. Process | Review current processes | Map target processes against SaaS capabilities | Normalise into single global standards | Configure mapping within SaaS workflows | Ongoing review and improvement |
| 5. People | Understand the organisation model | Design target organisation model | Create detailed org design and change plan | Rollout organisational changes and associated training | Ongoing training and support |
1. Technology architecture for KYC SaaS implementation
Migrating to a SaaS KYC platform or CLM platform requires careful planning of your technology architecture to ensure seamless integration with existing systems. Success depends on aligning new software with your organisation’s data flow, workflows, and compliance requirements.
With a SaaS solution, any bespoke features will need to be delivered by the external provider. You must understand how working with a third-party provider in this way will impact your technology roadmap.
Plan API integrations for KYC
When implemented, your SaaS KYC/CLM platform will be central to your client management ecosystem.
You will need data to flow from and to your new system, from sales and CRM software, external data providers such as Credit Ratings Agencies (CRAs), electronic identity verification (eID&V) solutions, document management systems and screening services. We recommend prioritising the integrations that will have the biggest impact on your compliance status, internal efficiency, and your customer experience.
Top Tips: Successful vendor selection for KYC/CLM
When selecting a vendor for your SaaS KYC/CLM solution, it's critical to identify potential issues upfront and plan accordingly to avoid complications during implementation. Misaligned expectations or integration challenges between systems like CLM and CRM, or CLM and screening systems, can derail your programme if not addressed early on.
One client programme we worked on revealed the risks of underestimating vendor constraints. Early reviews of vendor proposals identified gaps between the platform’s advertised capabilities and the client’s complex business requirements, helping to avoid costly misalignments later in the process.
Our tips to avoid these issues?
- Lay the groundwork: Ensure that migrating to a SaaS model aligns with your organisation's broader technology plans. Define a target operating model blueprint, drawn up from requirements across the organisation, and start building a business case.
- Narrow down your options: Begin by scanning the market, followed by initial assessments and demos. Develop a clear set of criteria and requirements to evaluate potential vendors.
- Choose the right provider: Evaluate vendors through a structured RFP process, focusing on critical functional and technical requirements. Bring in stakeholders from across teams, including end users, for evaluation.
- Final due diligence: Once a preferred supplier has been chosen, gather references and review the contract terms. Design two-way vendor governance so that decisions can be made efficiently and transparently as the implementation phase begins.
If your current focus is on vendor selection, reach out to us at BeyondFS. We use a rapid, proven vendor selection methodology plus a detailed knowledge of the solutions in the market, to help guide our clients through this process.
2. Data and reporting requirements for KYC SaaS
As you plan how to implement your new SaaS KYC/CLM platform you will need to align with global entity data models, understand your key reference data and manage data privacy risks. Only then will you be able to migrate data effectively from your legacy systems and integrate with data now originating from your new system so you can create effective KYC management information.
The SaaS provider you’re working with should be able to help you on this journey. However, the responsibility for getting your data models right and remaining compliant lies with you and your organisation.
In one implementation we managed, the complexity of a client’s data structure required working closely with the SaaS vendor to adjust the platform’s capabilities. This kind of hands-on collaboration can ensure the technology supports your unique organisational needs, but it’s often more resource-intensive than anticipated.
To get on the front foot, start by understanding requirements for well-structured and well-governed data across the organisation. Make sure you know what foundational reference data exists, for example, customer types, product lists or sector codes.
It’s important to establish clear data governance processes early on in any KYC implementation programme.
Create a shared data dictionary, system mastery guidelines and change management principles. Without these, a lack of governance can lead to poor data integrity and consistency: a tough problem to solve later down the line.
Real-time KYC reporting and CLM management information
One enormous benefit of the SaaS model it that it should be feasible to get real-time reporting up and running without a long lead time.
If you don’t have access to one already, choose an enterprise reporting tool that’s easy to configure such as PowerBI or Tableau. Invest in upskilling the team so they can bridge the data between existing systems, SaaS platform, and your reporting tool: these are the kinds of skills you want to have in-house as your reporting needs grow.
Once accurate real-time reporting is in place, put your new reports to good use. Keep track of your programme’s KPIs, building them into programme governance reviews, and reap the rewards of your good work.
Did you know?
You might be sitting on a mountain of data. But this information can’t be fully harnessed without standardisation. Fortunately, the Financial Markets Standards Board (FMSB) is working on a new finalised ‘Standard for Client Onboarding: Documentation and Processes’, set to be published imminently, to help you plan comprehensive KYC data standards.
3. Policy mapping for KYC and CLM implementation
One of the biggest challenges in SaaS KYC/CLM platform migrations is aligning industry-standard policy frameworks with the specific regulatory requirements of your financial institution. SaaS platforms often provide baseline frameworks, but these rarely address the unique complexities of your organisation’s policies, particularly in areas like AML and KYC.
In one real-world scenario faced by our consultants, a financial institution faced significant challenges standardising its global operations while rolling out a new CLM platform. Regional differences in processes and policies created resistance, underscoring the importance of addressing diverse needs early and aligning them with a unified operating model. Resolving these issues required detailed workshops and stakeholder engagement to establish a standardised framework that respected local nuances.
Your regulatory policies may span multiple jurisdictions, business lines, and focus areas, creating a diverse and ever-changing policy mix. Adapting these policies to fit within the constraints of a SaaS KYC platform requires careful planning and execution.
We’ve found that understanding the policy changes needed is one of the most underestimated yet crucial parts of any SaaS KYC/CLM migration programme.
Create a global baseline standard for KYC/CLM
To get on the front foot, start by mapping your organisation’s policies and focus on the variables that are most impacted by KYC/CLM processes. From here you can define your target policy architecture, making sure it aligns with your organisation’s broader regulatory and risk management frameworks.
Next, review your target policy architecture with the SaaS provider’s policy framework: where are the gaps? What’s not aligned?
Combine your target policy architecture and gap analysis to write up your global baseline standard, making sure this new policy documentation works within the SaaS provider’s policy model. You may then need to re-run this process, going through policies for different business lines or jurisdictions.
4. Process review for KYC SaaS and automation
Most SaaS solutions come out-of-the-box with standard workflows and KYC/CLM processes baked in. However, core processes such as customer onboarding are rarely the same between different organisations. We’ve found that other processes, such as event-driven and periodic reviews, can vary within organisations too.
Reimagine processes based on a truly digitised KYC flow
Implementing a new KYC/CLM solution offers the opportunity to re-design processes in a more standardised and efficient way, driven by digitisation and automation. Understand current processes but seek to drive real efficiency through automation. Remember this is about transformation, not simply moving our current process into a new system.
Understand your organisation’s unique CLM workflows
Start by digging out the KYC/CLM processes that are already in place, including customer onboarding, refresh and exit procedures. These will serve as a foundation for mapping existing processes against how processes might work in the new post-SaaS implementation world.
Map the identified processes against the SaaS platform’s workflows and capabilities. From here it should be clear how processes might need to adapt to the new system.
Establish global standards for KYC/CLM processes
As you review your KYC/CLM processes, look for opportunities to build them into global standards as much as possible. Establishing global standards for all your workflows will help you as you roll out changes and will establish more consistent practices across your organisation.
Work with your SaaS provider to configure these global standards within your new software platform.
Tweaking workflows within the software to match your organisation’s needs should improve efficiency and make it quicker to train your team.
5. Building the right team for KYC transformation
At first glance, designing your organisational model around a SaaS platform is not radically different to designing it around an on-premises system. However, to make the most of your operating model transformation programme, it's likely that you’d want to build in new efficiencies through some level of centralisation.
Although well worth it long-term, transitioning to a centralised model can be challenging and time-consuming.
Redesign procedures, roles and responsibilities for KYC SaaS
Shifting towards more digitised, automated processes will mean a significant change in the ways processes should be carried out. Procedures, as well as job roles and responsibilities, will change. The setup and structure of teams will likely also shift. Make the most of your review of internal processes to drive organisational design conversations.
Create a mobilisation plan for a more centralised CLM model
Create a new target organisational model, including who you need, the functional design and a location strategy. During the process, identify any risks or dependencies, such as jurisdictional data sharing requirements, that could impact your transition and document how you will manage them.
From here, develop a resourcing plan that outlines who you’ll need during and after the transition to a SaaS KYC/CLM model. Investigate whether you’ll be able to fill any gaps through internal recruitment or through managed services and draft a hiring plan for sign off.
Design a KYC SaaS training plan
Your mobilisation plan will also need to include training for your staff, not only on the new solution but also your new procedures and operating model.
Talk to your SaaS provider to learn about what training they can offer on the solution, and review your work across technology architecture, data, policies and processes to design a training programme that can cover what colleagues need to know that’s specific to your organisation.
When the time comes to move to a more centralised model, create a phased transition plan so you can move across bit-by-bit. For example, centralise your governance functions first, then physical locations, so that the process is more manageable.
Next steps
What’s next on your KYC/CLM transformation journey?
01
To move forward, conduct an impact assessment and develop your business case: Evaluate the costs and benefits a new SaaS platform would bring. Present to senior stakeholders, highlighting the opportunity to improve internal efficiencies, the customer experience and maintain best-in-class compliance.
02
To move forward, define your target operating model blueprint: Get clear on the technical and business requirements from across the organisation so that you can approach vendors with confidence.
03
To move forward, assess whether you’ve covered all aspects of your new operating model: Investigate whether there may be workstreams that were left out of the original programme scope but now need to be included. Make sure you have a clear strategy and execution plan in place for each part of the programme and the right people in key seats.
04
To move forward, review your technology architecture, integrations and data models: Read through this guide and make sure your operating model has been amended sufficiently to make the most of the new SaaS platform. Also consider the business-focused aspects of change management that might have been forgotten during your implementation phase.
05
To move forward, conduct an impact assessment: Assess the costs and benefits of moving to a new SaaS provider, talking to colleagues across the business to understand current pain points. Review the contract terms with your current provider.
Frequently asked questions
FAQs: KYC SaaS implementation
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The most critical step is aligning your operating model with the new platform. This includes rethinking your organisation’s data, workflows, policies, and processes before integrating the technology. Without this foundational work, even the best SaaS KYC platform cannot deliver its full potential.
For more, review our end-to-end approach to KYC SaaS implementation here.
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Choosing between building a custom KYC/CLM platform or buying a SaaS solution depends on your organisation’s needs. A SaaS platform offers quicker implementation and lower upfront costs but comes with limited customisation. A bespoke solution provides more flexibility but requires significant resources and time to develop. Consider scalability, compliance, and integration when making your decision.
For more on defining your technology architecture for KYC implementation, review our recommended approach here.
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Start by defining your target operating model and creating a clear set of vendor evaluation criteria, including compliance capabilities, integration options, and scalability. Conduct a structured RFP process, engage stakeholders, and prioritise vendors who align with your strategic goals and technical requirements.
For more on vendor selection for KYC and CLM platforms, review our recommended approach here.
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Policy mapping involves reviewing and aligning your organisation’s regulatory policies with the SaaS platform’s standard frameworks. Start by creating a global baseline standard, identify gaps through a policy framework comparison, and adapt your policies to fit the SaaS model while maintaining compliance across jurisdictions. Most organisations will land on a global policy standard with regional uplifts.
For more, review how to approach policy mapping for KYC implementation here.
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We recommend that you:
- Appoint a senior leader to champion the programme. Create a shared vision and develop a detailed target operating model.
- Build cross-departmental teams to drive collaboration.
- Plan for quick wins to build momentum and confidence.
For more on how to prepare for a KYC SaaS implementation, download our PDF guide here.
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Consider switching if your current provider cannot meet your organisation’s evolving compliance requirements, offers poor integration capabilities, or has limited scalability. Conduct an impact assessment, review your contract terms, and involve key stakeholders before making the transition.
For more on how to assess your organisation’s needs and review your target operating model for KYC, download our PDF guide here.
Resources
Resources for KYC SaaS Implementation
Recommended Reading on KYC SaaS
Video Series: Matt Neill on Generation 2 KYC/CLM
Client stories
Read our KYC Implementation Client Stories
Our team has decades of experience helping financial institutions transform their KYC/CLM processes and systems.
Contact us
Expert support for your KYC/CLM transformation
Our clients turn to us instead of the ‘big 4’ because of our deep expertise in financial crime and KYC/CLM transformation programmes. We bring in small, dedicated teams who integrate quickly and start delivering from day one.
We’ll help you define your success, structure your programme, and keep you on track, ensuring you see early wins and realise the benefits of your technology and operating model transformations in full.
Contact us to speak with our KYC/CLM transformation expert
Matt Neill
Partner at BeyondFS
Matt has over ten years’ consultancy experience helping financial services clients navigate the ever-changing client onboarding and CLM landscape, building a strategic function that sets them apart from others.
matt.neill@beyondfs.co.uk