Rising due diligence tasks were costing a multinational bank crucial time and money that could be devoted elsewhere in the business. This problem was exacerbated by the ongoing economic uncertainty, and these staggering costs continued to grow. The bank turned to Kroll to develop a due diligence plan that would help them retain more of their budget and derive more value for ongoing growth.
Due diligence experts from our Compliance, Risk and Diligence team set out to work around the bank’s offices in London, Hong Kong, New York and Mexico City to study its operations up close, locate areas that required significant improvement and implement major changes to help the bank minimize its overall costs and time spent on the due diligence process. The experts conducted extensive field work and analyses to identify efficiency gaps in their existing program and presented the findings of their rigorous investigation to key decision-makers, enabling the bank to take immediate action. Kroll demonstrated its capability to work across different divisions and cities to provide the client with prompt solutions.
Kroll’s involvement across all aspects of the bank’s due diligence process had an immediate impact. The bank saved 70% of the diligence costs they previously incurred on an annual basis. Furthermore, as Kroll handled the stream of work globally, the bank achieved its goals with minimal effort. The bank expanded on its relationship with Kroll and serves as one of our ongoing clients.
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