Wasa Kredit
Background
Wasa Kredit has always placed great importance on complying with the rules and security requirements related to AML (Anti-Money Laundering) and customer due diligence. During a review of their processes, they identified opportunities for improvement in both efficiency and security within their KYC (Know Your Customer) solution. To meet these needs and strengthen the customer due diligence process, Sweet became a natural partner.
Through close collaboration, we analyzed each step of the process and identified areas for improvement, which enabled the development of a more robust and future-proof KYC process. This laid the foundation for a solution where Sweet Automation plays a central role in automating and streamlining the entire workflow.
Challenge
Although Wasa Kredit already had a KYC solution in place, the process was not sufficiently efficient, and there was a clear need for improvement. They required a more streamlined process to ensure both high data quality and regulatory compliance.
Solution
By combining Sweet Forms with Sweet Automation, Wasa Kredit provides KYC forms and manages the collection of customer data in a smooth and automated way. When a customer is requested to complete their KYC, the process begins with the customer logging in to Wasa Kredit’s “Mina sidor” (My Pages). There, they choose whether the KYC process should be completed as a private individual or on behalf of an organization. Sweet Automation manages the integration between various systems by receiving the request, retrieving data from Wasa Kredit’s customer due diligence system, and pre-filling the form in Sweet Forms with the customer’s information.
The customer reviews and completes the mandatory fields, which are validated to ensure all data is accurate. Once the form is submitted, the data is automatically sent back to Wasa Kredit’s master system for customer due diligence. Then, Wasa Kredit’s risk classification system is triggered to assess the customer’s risk level. This risk classification determines, for example, whether the customer can sign up for new products, as well as how often periodic KYC updates will be required in the future.
The risk classification is fully integrated with external systems, allowing Wasa Kredit’s due diligence system to be automatically updated with accurate risk information. This ensures that Wasa Kredit always has up-to-date information regarding customer risk level and due diligence status.
Document Management and Email Verification
In addition to the KYC forms for data collection and integrations via Sweet Automation, Sweet has also built several features beyond the core AML flow. Among these is an integration with Wasa Kredit’s document archive, where PDF representations of the completed KYC forms are stored.
Periodic Reminders
Sweet Automation also manages periodic KYC notifications. These are automatically sent out, typically after three years, depending on the customer’s risk classification and product type. Sweet Automation distributes reminders and follows up with the customer. The notifications are tailored based on whether the customer is a private individual or an organization, and on the specific product they use—such as a boat loan or a credit card. The correct PDF and letter template are sent to the right customer via Kivra, including follow-up reminders when needed.
Anna Skarpman
Chef Kundgemensam kärnaffär
About Wasa Kredit
Wasa Kredit is a finance company that offers flexible financing solutions for both private individuals and businesses. Their broad portfolio of services includes leasing, hire purchase, and loans, with a focus on facilitating investments and purchases for their customers. With over 30 years of experience in the industry, Wasa Kredit is a well-established player that combines innovation with reliability to deliver smooth and tailored financing solutions.
