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COVID-19 crisis impact on KYC and client onboarding with Judit Toth


Ahead of the IDENTITY.i Virtual Summit we talk to guest speaker, Judit Toth, Head of Complex Corporate Onboarding and KYC Team at Saxo Bank.


CGG: Could you tell us about the session that you are presenting at IDENTITY.i?

JT: Navigating the KYC processes and information sharing in a Global Bank. During this session I am presenting my organisation's, Saxo Group's, journey on this road by telling about 2 alignment processes - one that we have mostly done and one where we are still on the road.


CGG: In your opinion how has/will the COVID-19 crisis impact KYC and client onboarding?

JT: It will create/has created an even bigger focus on digitalisation, because I believe that many financial organisations may not have been prepared for the influx of clients and realised that fast onboarding is the key, but it must be compliant too and this is where the devil lies: know your clients-to-be and your market and create the digital processes accordingly. This also puts pressure on the technology providers.


CGG: Why would you recommend KYC//Onboarding/AML Practitioners attend IDENTITY.i?

JT: It is always a big plus to meet peers and hear their stories. It gives the industry insight that people cannot get from books and articles because these are the people who don't write books or articles, but get the work done. they have the practical knowledge and it is always great to get the common feeling of "yes, we are in the same boat", "I know what you mean". So yes, I think it is important to attend such meetings/conferences if one is serious about their work and role in their respected organisations. And of course, no one should underestimate the networking opportunity.


CGG: Which session are you most looking forward to attending at IDENTITY.i?

JT: I don't have a particular session in mind, but I always like to hear from technology providers, because they are the ones with the always newer and newer technological advances and ideas, which I very much like to hear about and take these back to me organisation and inform my management about what is out there. and of course, listening to my peers's stories, as mentioned.


To learn more from Judit and other experts at IDENTITY.i, register here to attend the Virtual Summit.

For more information about IDENTITY.i and to download the agenda: Click Here


About Judit:

My name is Judit Toth. I am working at Saxo Bank, in Copenhagen, Denmark. I started to work there in 2007 as an individual contributor. During the next 7 years, I was working as a subject matter expert (SME) on onboarding of institutional clients, managing onboarding related projects, participating in the design of customer data depository and onboarding related IT systems, including testing the new systems and be a super user. In 2015, I was appointed as a team lead for a team, we had that time, called Corporate and Institutional Onboarding in Copenhagen where I was responsible driving structural changes, managing the daily work and acted as an SME, as well. This role got extended to a global role in June, 2016 when I became a global team lead, being responsible for our onboarding teams in Singapore, UK, CH, Australia and Hong Kong.

Our due diligence process developed and changed a lot during 2017 which resulted in that in October, 2017, I became the team lead of a smaller team who was responsible for making sure that our high risk and complex clients are getting onboarded as per the enhanced due diligence methodology, within the Saxo Group. We also served as quality control function of high risk client onboarding, globally. We also started to focus on global renewal. This role has given me the opportunity to be much more strategic than ever before during my tenure in Saxo Bank and I took it as a great challenge to drive the new initiatives, combine ideas of being compliant and also customer friendly, participate in building our new teams and establishing new ways of working.

Today, since September, 2019, I have been the team lead of a unit who are responsible for the institutional client segment when it comes to onboarding, renewal and managing AML risk. We are also serving as experts and sparring partners for other onboarding teams in regards to understanding complex corporate structures and make sure that the right onboarding principles are applied.

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