AI-Supported Client Onboarding Process (Lawyers, Tax Advisors)

Process Goal

The client onboarding process ensures that statutory or internal company obligations, e.g. from the Money Laundering Act (AML), are fulfilled efficiently, securely and in an audit-compliant manner. Through the use of AI-supported automation, sources of error are reduced, processing times shortened and clients professionally integrated.

KPIs:

90% time savings in capturing and verifying client data
100% audit-compliant storage of all documents (Section 8 AML)
Automatic annual monitoring without additional manual effort
Error rate <3% in identification and risk analysis

90% time savings in capturing and verifying client data
100% audit-compliant storage of all documents (Section 8 AML)
Automatic annual monitoring without additional manual effort
Error rate <3% in identification and risk analysis

90% time savings in capturing and verifying client data
100% audit-compliant storage of all documents (Section 8 AML)
Automatic annual monitoring without additional manual effort
Error rate <3% in identification and risk analysis

Improvement with FireStart

Fully digital and automated onboarding process
Integration of clients through web forms with upload functionality
AI-supported verification of documents and data for completeness and correctness
Integration of electronic signatures (e.g. via Docusign, sproof)
Support in risk analysis through semi-automated assessment
Audit-compliant storage on e.g. MS SharePoint
Annual, fully automated update for selected clients

Fully digital and automated onboarding process
Integration of clients through web forms with upload functionality
AI-supported verification of documents and data for completeness and correctness
Integration of electronic signatures (e.g. via Docusign, sproof)
Support in risk analysis through semi-automated assessment
Audit-compliant storage on e.g. MS SharePoint
Annual, fully automated update for selected clients

Fully digital and automated onboarding process
Integration of clients through web forms with upload functionality
AI-supported verification of documents and data for completeness and correctness
Integration of electronic signatures (e.g. via Docusign, sproof)
Support in risk analysis through semi-automated assessment
Audit-compliant storage on e.g. MS SharePoint
Annual, fully automated update for selected clients

AI-Supported Client Onboarding Process

Identification of the client
- The lawyer or compliance officer proactively initiates the process.
- The new client automatically receives a link to a personalised web form for data entry and uploading required documents (For natural persons: valid ID, personal data; for legal entities: commercial register extract, proof of representation authority, information on beneficial owners).
- AI automatically verifies the correctness of the documents.
Determination of the beneficial owner
- Automatic or manual query of beneficial owners (> 25% capital/voting share).
- Analysis of the ownership structure and documentation according to AML.
Creation and signing of the client document
- Generation of the document by AI and review by the lawyer.
- Client receives the document for electronic signature (e.g. via Docusign, sproof).
Risk analysis
- Lawyer receives an overview of all collected data.
- Automatic proposal for risk assessment based on defined factors.
Documentation and retention
- Automatic filing of all documents and risk analysis.
- Fulfilment of statutory retention requirements (Section 8 AML, 5 years).
Monitoring and updating
- Annual re-onboarding process is automatically initiated.
- Pre-filled form for clients to confirm or update information.
Reporting obligations
- Optional process: In case of suspicion of money laundering, a suspicious activity report to the FIU (e.g. Ministry of Finance) is automatically prepared.

Identification of the client
- The lawyer or compliance officer proactively initiates the process.
- The new client automatically receives a link to a personalised web form for data entry and uploading required documents (For natural persons: valid ID, personal data; for legal entities: commercial register extract, proof of representation authority, information on beneficial owners).
- AI automatically verifies the correctness of the documents.
Determination of the beneficial owner
- Automatic or manual query of beneficial owners (> 25% capital/voting share).
- Analysis of the ownership structure and documentation according to AML.
Creation and signing of the client document
- Generation of the document by AI and review by the lawyer.
- Client receives the document for electronic signature (e.g. via Docusign, sproof).
Risk analysis
- Lawyer receives an overview of all collected data.
- Automatic proposal for risk assessment based on defined factors.
Documentation and retention
- Automatic filing of all documents and risk analysis.
- Fulfilment of statutory retention requirements (Section 8 AML, 5 years).
Monitoring and updating
- Annual re-onboarding process is automatically initiated.
- Pre-filled form for clients to confirm or update information.
Reporting obligations
- Optional process: In case of suspicion of money laundering, a suspicious activity report to the FIU (e.g. Ministry of Finance) is automatically prepared.

Identification of the client
- The lawyer or compliance officer proactively initiates the process.
- The new client automatically receives a link to a personalised web form for data entry and uploading required documents (For natural persons: valid ID, personal data; for legal entities: commercial register extract, proof of representation authority, information on beneficial owners).
- AI automatically verifies the correctness of the documents.
Determination of the beneficial owner
- Automatic or manual query of beneficial owners (> 25% capital/voting share).
- Analysis of the ownership structure and documentation according to AML.
Creation and signing of the client document
- Generation of the document by AI and review by the lawyer.
- Client receives the document for electronic signature (e.g. via Docusign, sproof).
Risk analysis
- Lawyer receives an overview of all collected data.
- Automatic proposal for risk assessment based on defined factors.
Documentation and retention
- Automatic filing of all documents and risk analysis.
- Fulfilment of statutory retention requirements (Section 8 AML, 5 years).
Monitoring and updating
- Annual re-onboarding process is automatically initiated.
- Pre-filled form for clients to confirm or update information.
Reporting obligations
- Optional process: In case of suspicion of money laundering, a suspicious activity report to the FIU (e.g. Ministry of Finance) is automatically prepared.