in onboarding times
of customer outreach
throughput times and volumes
With Celonis, Deutsche Bank obtained complete end-to-end visibility of their KYC processes so every stakeholder is looking at a single unified view, and is now able to clearly see how any change impacts process performance and customer experience.
As well as being the leading investment bank in Germany, Deutsche Bank have a presence in over 50 countries around the world, with strong bases in all major emerging markets. Known for putting customers at the center of everything they do, Deutsche Bank operate four client-centric businesses: Investment Bank, Corporate Bank, Private Bank, and Asset Management.
Deutsche Bank developed a bespoke workflow to meet KYC requirements for their Corporate and Investment Bank; an initiative led by Marco Luebbers, Managing Director of Corporate Bank & Investment Bank KYC Ops. With Celonis, they enabled end-to-end visibility for every stakeholder involved in the process and streamlined the workflow to deliver better outcomes for the customer while maintaining the bank’s strict confidentiality standards.
With evolving regulations and ongoing product innovation, Deutsche Bank’s KYC workflow is designed to adapt proactively. As Luebbers states, “KYC is a regulatory must. We need to fulfil our regulatory obligations. But processes and product changes impact the KYC process too.”
Deutsche Bank wanted to create visibility over the impact of these small changes, and whether they achieved the expected outcomes. They wanted to reduce the risk of these changes causing unforeseen consequences for process performance, that might add friction to the customer experience. With a complex stakeholder network spanning sales, operations, financial crime professionals, and many more, they needed to improve visibility of the KYC workflow for every party while maintaining all regulatory standards.
Marco Luebbers, Managing Director, Corporate Bank & Investment Bank KYC Ops
“It's super critical that everyone looks at the same source of truth, the same data. That's where Celonis steps in.”
On their mission to unlock a new level of transparency and efficiency for their KYC processes, Deutsche Bank looked to Celonis, which was already deployed in other areas of the bank.
Leveraging Celonis Deutsche Bank can test the performance of several KYC processes—from customer onboarding to periodic and event-driven reviews. This multifaceted approach delivers enhanced visibility, allowing stakeholders to understand how each process is performing and to model the predicted impact of planned changes.
Marco Luebbers, Managing Director, Corporate Bank & Investment Bank KYC Ops
“Celonis reveals where a process might not have achieved the outcome we envisaged, and this is the control we use to benchmark how we implement change.”
With the combination of process intelligence tools and operational enhancements, Deutsche Bank have improved the KYC customer experience in several ways—achieving quicker customer onboarding and reducing friction throughout the process. Marco Luebbers highlights how the team is streamlining customer contacts to achieve the best client experience: “We want our customer interactions to be as seamless as possible. With Celonis, we can optimize outreach and streamline communication with our clients”.
As for his one piece of advice for other organizations working with Celonis? “Make sure all stakeholders and potential users are part of the journey early on.” Getting process experts, frontline teams and ultimately all future users aligned from the start ensures everyone trusts the data and believes in the tool, because they shared in the journey.
For Deutsche Bank, ongoing work in the highly complex KYC process includes plans to further embed Celonis— into steering and governance frameworks. Marco Luebbers notes that the team is exploring task mining capabilities to gain deeper insights into process steps outside of core systems, supporting continuous improvement and efficiency across the organization.
Plus, the team is already looking into Celonis’ machine learning capabilities to predict the service-level adherence of processes, forecast problems before they happen, and intervene early on to make sure performance meets both customer and operational expectations. Luebbers explains “in terms of future developments, we are more looking into the machine learning components and prediction components. This is quite key, because with this we can then prevent things from happening before they happen. And this is where we see a big opportunity in Celonis.”
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