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BIND Success Story
How BIND Scaled Its Banking-as-a-Service Model with Smart Client Risk Management and Enhanced Due Diligence—Powered by Chaindots
About BIND
BIND (Banco Industrial) is one of Argentina’s leading financial institutions, known for its innovation and commitment to digital transformation. Through its Banking-as-a-Service (BaaS) model, BIND provides flexible financial solutions that empower businesses, fintechs, and other digital players to access banking services with speed and security.
BIND is driving the future of banking by integrating cutting-edge technology and automation to enhance customer experiences and ensure compliance with regulatory standards.
Customer knowledge through the use of the platform is managed efficiently, delivering rapid results and practical application when making decisions.
Additionally, we have on-demand support from professionals trained in the field, enabling high-impact collaborative work within our third-party fund management verticals.
Diego Nicolas Scaldaferri , Gerente de PLAFT y Cumplimiento
diego-nicolas-scaldaferri
The Challenge
In its expansion process, BIND aimed to broaden its client portfolio for its Banking-as-a-Service (BaaS) model. Among these clients were crypto companies, remittance services, collection agencies, fintech companies, payment processors, brokerage firms, currency exchange houses, and others.
To integrate these industries into its Banking-as-a-Service model, BIND needed to ensure a thorough assessment of these new segments, gaining a deep understanding of the specific characteristics of each sector, designing control frameworks, and ensuring compliance with current regulations in Argentina.
Among the main challenges, BIND had to:
Assess clients based on the specific risks of each industry, in compliance with the regulations
established by supervisory bodies.
Implement a standardized and scalable risk assessment framework to ensure consistent
decision-making within the local market.
Gain visibility into the inherent risks of each industry it sought to operate with and measure the
controls implemented by its clients.
Optimize evaluation times through process automation to align with its growth objectives.
Enhance the customer experience by offering an efficient, digital, frictionless due diligence process
that aligns with its high service standards.
Given the rapid growth of its client network, BIND required a solution that would allow it to combine operational efficiency with regulatory compliance without compromising the user experience.
How Chaindots Helped BIND
Digitalization of Enhanced Due Diligence Processes
Design of Industry-Specific Customer Risk Forms and Matrices
The Chaindots expert team developed customized risk forms and matrices tailored to different types of clients and industries.
Key platform functionalities used:
Scalability and Efficient Remediation
Chaindots provided automated remediation tools, allowing BIND to proactively address compliance gaps and maintain strict control over risks within its client network.
Moreover, the Chaindots platform enabled BIND to effectively scale its compliance processes, adapting to the growth of its client portfolio without compromising quality or alignment with Argentine regulatory standards.
The Results
Thanks to its partnership with Chaindots, BIND successfully transformed its Enhanced Customer Due Diligence process and significantly improved its ability to assess clients.
Key Achievements:
Complete Digitalization: Implemented a fully digital workflow, reducing response times and optimizing operational efficiency.
Fast and Automated Risk Assessments: Significantly decreased approval times for API clients through customized and automated methodologies.
Improved Collaboration and Productivity: Enhanced integration and communication between commercial, risk, and compliance teams, streamlining internal processes.
Scalable Regulatory Compliance: Implemented a standardized risk assessment framework, enabling the scaling of compliance operations while maintaining consistency with Argentine regulations.
Conclusion
With the support of Chaindots, BIND has strengthened its risk management and compliance practices, ensuring a fast and secure due diligence process for clients in different industries.
As BIND continues to innovate and evolve, Chaindots remains a strategic partner in its digital transformation and regulatory compliance optimization.
By leveraging the functionalities of Chaindots, we have established a mechanism that synthesizes and compiles the main characteristics and associated risks of our clients and their users into a single tool.
The information provided by our clients on the Chaindots platform is quickly analyzed using matrices that we developed collaboratively. This approach enables us to gain a precise understanding of the primary risks and mitigants, facilitating data-driven decision-making.
Diego Nicolas Scaldaferri , Gerente de PLAFT y Cumplimiento
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Banks, fintechs, and financial institutions around the world rely on the Chaindots platform to power their compliance strategies and build lasting connections. Our commitment to innovation and security ensures that you stay ahead in an ever-evolving regulatory landscape.
