Compliance Automation
Washington Capital Partners (WCP), a mid-sized private equity firm, struggled with manual KYC/AML compliance workflows that were slow, error-prone, and resource intensive. Proveo partnered with WCP to build a low-code/no-code automation pipeline—seamlessly integrating OCR, cloud document storage, and a real-time audit dashboard. The result: a 75 % reduction in processing time and a 10 % drop in compliance errors, saving the firm over $5 million annually in operational costs.
75%
reduction in processing time
10%
drop in compliance errors
Washington Capital Partners (WCP) is a private equity and venture capital firm managing $3 B+ in assets. With a diverse portfolio spanning fintech, healthcare, and energy sectors, WCP must adhere to strict KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations—across multiple jurisdictions. As transaction volumes grew, their traditional, paper-centric process required manual review of documents (passports, bank statements, corporate filings) and scattered communications between legal, compliance, and deal teams—leading to bottlenecks, missed deadlines, and compliance risk.
Diagnosing the Problem & Providing the Solution
Prior to Proveo’s engagement, WCP faced several compliance hurdles:
- Manual Data Entry: Compliance analysts manually reviewed and extracted data from each document, spending an average of 4 hours per new client.
- Error-Prone Processing: Typos and missed fields led to incomplete KYC profiles, resulting in rework and regulatory exposure.
- Siloed Systems: Documents were stored across local drives, email attachments, and legacy on-premise servers, making audit trails difficult to assemble.
- Limited Visibility: Senior management had no real-time dashboard to track compliance status—relying instead on weekly Excel exports that were often outdated.
WCP needed an end-to-end solution that could ingest scanned documents, auto-extract key fields, validate them against watchlists, and provide a transparent audit trail for regulators.
Proveo designed a Compliance Automation Platform with the following pillars:
- Low-Code/No-Code Workflow Builder
- Platform Choice: Leveraged the Mendix/OutSystems environment (or Power Platform) to rapidly prototype workflows without extensive custom coding.
- Drag-and-Drop Interface: Built a reusable workflow template that managed document upload, OCR extraction, watchlist checks, and data validation.
- Role-Based Routing: Configured conditional logic so that high-risk profiles (determined by country of origin or PEP status) routed to senior compliance review, while low-risk flowed straight to approval.
- OCR & Data Extraction
- Hybrid OCR Engine: Combined AWS Textract with a custom document-classification ML model to identify passports, utility bills, corporate filings, and extract key fields (Name, DOB, Address, EIN, etc.).
- Validation Rules Engine: Implemented a serverless Lambda function (Node.js) that cross-referenced extracted data against global watchlists (OFAC, UN Sanctions, EU Blacklists).
- Secure Cloud Storage & Audit Logging
- Cloud Storage: Stored all original documents and parsed data in an encrypted S3 bucket (AES-256) with strict IAM policies.
- Immutable Audit Trail: Every user action (upload, approve, reject) was logged to DynamoDB, enabling a tamper-proof history for auditors.
- Real-Time Audit Dashboard
- Dashboard UI: Developed a React dashboard that displayed the current KYC pipeline, color-coded by risk level, and showed metrics like “Documents Awaiting Review,” “Pending Approvals,” and “Total Compliance Backlog.”
- Automated Notifications: Configured email/SMS alerts for SLA breaches (e.g., if a document sat unreviewed for more than 24 hours).
The Results & Impact of Proveo
These figures showcase the measurable outcomes our solutions deliver—demonstrating efficiency gains, cost savings, and enhanced performance. Explore the stats below to see how Proveo’s tailored approach drives real business value.
75%
Reduction in Processing
Average KYC completion time dropped from 4 hours per client to under 1 hour—enabling WCP to onboard new funds and investors faster.
10%
Drop in Compliance Errors
Automated data extraction and built-in validation eliminated common typos and incomplete profiles, reducing rework and audit findings.
$5M
Annual Cost Savings
Factoring in reduced headcount for manual review and fewer regulatory fines, WCP realized $5 million in operational savings within the first year.
100%
Audit Readiness
With immutable audit logs and real-time dashboards, WCP easily passed its next regulatory inspection—without a single compliance lapse.
client feedback
What The Client Experienced
“Proveo’s solution completely transformed how we handle KYC/AML. In under three months, we went from manual checklists to a fully automated, cloud-based pipeline. Our team can now focus on high-value tasks instead of data entry.”
Chief Compliance Officer, Washington Capital Partners
Key Takeaways & Next Steps
- Scalability & Flexibility: The low-code platform allowed rapid adjustments as new regulations emerged—no major dev cycles required.
- Reduced Risk: Automated watchlist checks and audit logs gave WCP the confidence to expand into new markets without fear of compliance gaps.
- Future Roadmap: WCP plans to add AI-driven risk scoring for counterparties and integrate next-generation LLM-based document summarization for faster legal reviews.
Going forward, Proveo will help WCP extend automation to downstream workflows—such as portfolio monitoring, automated quarterly reporting, and AI-guided investment due diligence.
