Staying ahead with our unified, global KYC solution for securities trading
The customer
Tiger Brokers (AU) Pty Limited, is licensed and regulated by the Australian Securities and Investment Commission (ASIC), Australian Financial Services Licence no. 300767 (AFSL). The parent company Tiger Brokers is a NASDAQ-listed global company (TIGR). Tiger's flagship platform Tiger Trade is designed to give everyday Australian investors access to the market, reach for the best and grow to their full potential as investors. With this in mind, the company has designed an innovative, user-friendly platform that focuses on the power of knowledge. Delivering trading opportunities in the Australian, American and Asian markets with transparent in-depth information at users' fingertips.
The challenge
- Operating in a multicultural Australian market
- Managing multiple complex systems for compliance
As an investing platform trusted by Australian investors, Tiger Brokers (AU) needed a way to manage their client onboarding across Australia. Australia's multicultural and diversified population required a vendor that could provide a more efficient experience for Australian clients to have their various passports and forms of identification securely checked with ease.
In addition to the complex management of multiple vendors and identification checks, the existing processes often required significant amounts of manual intervention.
"FrankieOne is an onboarding platform that Tiger Broker uses as external vendors that help us to fulfil our AML/CTF obligations. We work with FrankieOne to enhance our auto passing rate and reduce any manual intervention for the individual client onboarding process. FrankieOne has helped Tiger Brokers do just that and has delivered a seamless experience for our clients."
The FrankieOne solution
With FrankieOne’s, flexible, future-proof solution, Tiger Brokers benefits from:
- A highly adaptable and configurable platform
- Uplift in pass rates with a cascade feature
- Single integration and commercial arrangement for multiple vendors
Tiger Brokers initially sought to reduce the operational complexity of maintaining robust compliance in Australia by adding support, through FrankieOne, for more local and foreign passports and identity documents. However, they have also benefited from our cascade feature that improved their straight-through pass rates which means less manual intervention is required and more clients can enjoy a fast and frictionless onboarding experience. Tiger Brokers also benefits from the flexible, future-proof platform that is highly configurable and adaptable to changing regulations. Tiger Brokers can maintain robust oversight while reducing complexity for their teams on the ground in Australia.
