What should you be looking for when choosing your CLM?

January 23, 2023

KYC Portal is a dynamic lifecycle management platform that allows for any type of service offered including vendor management, supplier due diligence, client and corporate onboarding and much more.

Technically speaking, CLM stands for Client Lifecycle Management platform. A system that allows organisations to define and streamline the entire lifecycle of their counterparties. This is usually focused based on the type of sector, service or product that the organisation is offering. However in this case, our clients use KYC Portal CLM for managing relationships (or rather lifecycles) for all various types of services. From corporates, vendors, suppliers, merchants, funds and many more different use cases also including employees in some cases.
KYC Portal CLM is a dynamic client lifecycle management platform that automates processes for any type of service offered including; vendor management, supplier due diligence, client and corporate onboarding and much more.

This article focuses on the various use cases how KYC Portal CLM is currently being used in the market, showcasing the versatility of the tool and the benefits it brings to the table.

We believe that the three most crucial elements of any lifecycle management platform are the following:
  1. The ability to design and define what a counterparty is made up of (be it a vendor, a supplier, an individual, corporate, etc) as well as all the elements that you need on such counterparty (fields, forms, documents, risk, etc).
  2. The ability to design and define the actual lifecycle and who has access to such processes such as the teams, the users, the flow, the automation of steps based on the real time elements and how each user in the solution is allowed to interact with such a lifecycle at any point in time.
  3. The ability for the lifecycle management platform to interact with all the required third-party systems. These could be internal systems you already have in place as well as third-party providers which usually provide ancillary data to further augment the lifecycle itself.

One thing that we have learnt over the past few years however, is the fact that such lifecycles are prone to change. They change due to internal processes, regulations, market happenings and many other factors that happen on a daily basis. Most lifecycle management platforms actually help in identifying bottlenecks in processes which lead into requests to change the lifecycle itself. Such changes however usually come with big costs – both financial as well as costs related to the effort to have such changes implemented.

This is one of the biggest unique selling points of KYC Portal CLM. The configuration of the entire platform is through the back-office of the system itself – the Configuration Studio. A visual interface that can be managed by anyone and does not require any coding technical expertise. KYC Portal CLM allows your team to create and maintain any part of the policy. This includes all granular control such as the definition of what the entities in a counterparty are (such as company, trust, individual, UBO, etc) together with all the rules relating to that entity. It also allows you to control the fields required for each entity and all associated rules and validation, the required documents based on conditional policy, checklists, questionnaires, the statuses of workflow with associated teams and access, automated rules, screening, scraping of company house data, credit rating integrations and much more.
This ability to change the configuration in real time allows our clients to tweak any part of the lifecycle on the fly, without having to wait days for development and without having to put the solution on hold from use. If the regulations change and you suddenly need to start asking for a new set of information or documents from your clients, it can be done within a matter of minutes. If KYC Portal CLM highlighted bottlenecks in the current process of the lifecycle, your operations team can easily tweak the process within a few hours.

This level of flexibility has led to KYC Portal CLM being used in various industries for various reasons. We have live customers using KYC Portal CLM for vendor and supplier onboarding and relationship management in banking, oil and gas, logistics, gaming and payments industries. KYC Portal CLM is also being used to digitise counterparty outreach and onboarding and this is being used in forex industries, wealth and asset management as well as the industries mentioned above. Almost all clients within all industries are using KYC Portal CLM to be able to streamline the back office of due diligence, successfully reducing their risk exposure and also the cost to maintain such risk. Separate from the industries mentioned above such clients also include crypto, precious metals, legal, corporate and financial services, insurance and capital markets.

The above flexibility comes in handy when considering that such a lifecycle management tool needs to ingest data from multiple third party systems. For any lifecycle management platform to be effective, it needs to be able to sit on top of all the data points that teams use in order to manage such lifecycle. Usually such data sits in a number of systems both internal as well as external. Data on counterparties will sit in systems such as ERPs, CRMs, core systems and numerous other sources such as excel sheets, PDFs and many more. However throughout such a lifecycle, many use third-party sources such as company house registers, screening data, credit rating and others. All this, separate from the data that is being collected on such counterparts throughout the onboarding process. Any lifecycle management platform should allow for such data feeds.
This is done via integration points such as the REST API of KYC Portal CLM. However it is also important that the lifecycle management platform allows you to configure all the necessary data elements to be able to store those values. KYC Portal allows the compliance and operational teams to be able to design such fields and decide at which stage of the process they should be filled in, from where and also what should happen to the lifecycle based on such data.

This is why KYC Portal CLM was designed to be the most flexible counterparty lifecycle management platform on the market. A system that delivers peace of mind. A tool that sits on top of all your data sources, allowing you to orchestrate the most complicated lifecycle processes within a solution that is totally configurable. A lifecycle that reduces your risk exposure, as well as the cost of maintaining such risk.
For more info contact us directly at or schedule your live demo with us today.
Targeted For Operations and Management in Due Diligence
Status LIVE
Keywords CLM, Due Diligence, AML, Risk Automation
Direct Benefits Increase efficiencies in processes on onboarding counterparties and streamlining ongoing relationships.