Do you know? A simple compliance step like Know Your Customer (KYC) can slow onboarding, create admin chaos or worse land you in regulatory trouble.
For accountants, bookkeepers and tax advisers, the risk is only growing. There’s more scrutiny, stricter AML rules, and clients are expecting faster onboarding.
That’s where a strong KYC process comes into play. It makes compliance easy, build client trust and enhance operational efficiency.
But with complex regulations, ever-changing industry standards and fragmented tools, building such stronger KYC process is easier said than done. The result? Most firms are struck with outdated tools and manual checks.
But it doesn’t have to be that way.
In this post, we’ll share 7 actionable tips (plus one bonus) to help you build a KYC process that’s fast, reliable and actually fits your workflow.
Tap Into Official Records for Faster Checks
Googling your clients might feel like “research”. But it’s unreliable, time-consuming and you can easily miss something important.
So, use trusted public databases.
Sources like Companies House, credit reference agencies, sanctions list, vehicle and banking records are reliable and help you quickly verify clients name, address, business status and potential red flags.
And here’s the best part. With the right tools, you can filter searches, set alerts for changes in the records (like new sanctions or flagged ID numbers) and get risk scores to make faster onboarding decision.
This process is faster, more accurate and save countless hours copy pasting names from random search bars.
Actionable Tip:
Check if your onboarding platform integrates with the Companies House API or similar data source. If it does, enable integration today. This lets you auto-fill clients details and verify their details instantly.
Level Up How You Verify Identities
Documents often look legit but are they real? And most importantly, does it actually belong to client?
Manual ID checks leave a lot of room for error and fraud. That’s why it’s important to use modern tools that are smart and use automated verification process.
These tools let client snap a photo of their ID and a selfie and automatically runs biometric matching, forgery detection and document authentication within minutes.
The best part- these checks not only confirm identity but also flag fake documents before they become a problem.
Actionable Tip:
Before moving toward biometric tools, stop asking for ID over emails and use secure client portals for collecting documents.
Apply Deeper Checks for Risky Clients
Some clients require extra scrutiny. This includes foreign entities, politically exposed persons (PEPs), individuals subject to sanctions or those who operate in high-risk industries.
For these clients, you’re required to go beyond the standard KYC and AML process and carry out enhanced due diligence. Enhanced due diligence includes:
- Deeper identity verification
- Ownership and control structure analysis
- Verification of source of funds and wealth
- Screening sanctions and watchlist
- Enhanced risk assessment
- And more.
Actionable Tip:
Check sanctions list, PEP registers or other watchlists at least once a month and flag any high-risk names that are also on your client list.
Keep a close eye on high-risk clients and make sure their AML and KYC details are up to date.
Combat Digital Fraud with Smarter Tech
Today’s fraudsters don’t just fake documents. They create entire synthetic identities or take over real accounts with frightening precision.
So, manual checks won’t cut it anymore. You need digital tools that can spot suspicious device fingerprints, detect malware, analyse user behaviour and flag inconsistencies in real time.
Additionally, these tools can help you detect subtle anomalies and give you early warnings before fraud happens.
Even better, they help you spot trends across your entire client base. This lets you strengthen weak points in your onboarding process and adjust risk strategy accordingly.
Actionable Tip:
Audit your current KYC process for blind spots. Fix the gaps, test the improvements and repeat the process regularly.
This keeps your defence sharp as threats evolve.
Ensure Your Tech Tools Are Connected
KYC process works best when the data flow seamlessly across your systems.
So, make sure your CRM, onboarding software and proposal tool are all integrated. This helps you avoid duplicate data entry and ensures you have a complete picture of your client that’s accurate, up to date and accessible when you need it.
However, if your tech tools don’t integrate well with each other, you end up copy/pasting information from one system to another. This adds more admin and increases the risk of missing something critical.
Actionable Tip:
Map out your CRM, proposal software, AML platform and document storage. If they don’t connect, explore integration options or look for ways to streamline into fewer platforms.
Integrate KYC directly Into Your Proposal
What’s the point of KYC if your clients have already agreed to work with you?
So, instead of sending proposals first and chasing KYC documents later, build the KYC checks right into your engagement process. This lets client complete identity verification and upload relevant documents as they accept your proposal.
This avoids delays, keeps thing moving and makes your firm look professional and organised from day one.
Actionable Tip:
Integrate a simple identity check or document upload section into your engagement workflow.
Keep Your KYC Process Sharp & Updated
KYC is not a one-off task. It’s an ongoing process.
Over time, there is change in client details, ownership structure, addresses and their risk levels. So, it’s important to keep your records up to date and review clients records regularly.
Additionally, compliance requirements are always evolving. KYC are common and AML requirements are stricter than ever. And regulators expect your processes to keep up.
So, make sure your KYC process is sharp and meet regulatory requirements.
Actionable Tip:
Develop a simple checklist and set reminder to make sure you review and refresh client KYC details at least once a year.
Bonus Tip: Simplify KYC with FigsFlow
Today, most firms juggle almost a dozen of tools just to onboard a client. One for proposals, another for pricing, something else for CRM and then separate platforms for KYC, analytics and AML checks.
The process is clunky. And worse, it adds unnecessary friction on onboarding process.
That’s where FigsFlow– a proposal, pricing and engagement software for accountants comes into play. It is rolling out built-in KYC and AML checks directly inside the workflow.
This update makes FigsFlow a complete onboarding solution for accountants. Now, you can onboard client faster, stay compliant and keep everything in place at a fraction of cost.
Conclusion
KYC is the first line of defence and a chance to make a great first impression.
We’ve covered seven ways to make your KYC process smarter, faster and easier. From verifying IDs with biometrics to applying deeper checks for risky clients, staying alert to fraud and keeping everything up to date, each step brings you closer to a streamlined and compliant firm.
But doing all this across multiple platforms is costly and time consuming. And that’s what hit most of the firms.
FigsFlow changes that with all-in-one onboarding solution for accountants and accountancy firms. The best part, it’s rolling out built-in KYC and AML functionalities right inside your engagement workflow.
So, if you’re ready to build a process that’s fast and compliant, FigsFlow is how you get there. Try FigsFlow free for 30 days and see how much smoother your onboarding can be.
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