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Mocoh is using "Check" to facilitate its KYC onboarding and renewal process for all counterparties. We asked COO Mike Shaw, and KYC & Compliance Officer Liza Falzon, to explain the drivers for change and key results achieved through digitalisation of this process.

About Mocoh

For over 23 years, Mocoh has specialised in trading and supplying energy to customers across the African continent, with a growing focus on cleaner, more sustainable energy solutions for a lower carbon future.

01/ With a global team of over 50employees working out of 14 offices worldwide, the business has sustained consistent growth by expanding and diversifying its operations into new regions and sectors.

02/ Mocoh supplies over 5 million tonnes of crude and refined products per year to customers across its sphere of activity.

03/ As its business grows, Mocoh’s challenge has been to support the increasing number of clients, and maintaining an up-to-date picture of existing counterparties.

04/ This made having a robust customer onboarding and KYC process essential to the company’s strategic objectives.

Their Needs

Compliance and transparency are core to Mocoh’s integrity, and to the strength of its partnerships. Client on boarding and KYC requirements are increasingly complex and time consuming. Mocoh is building a platform for growth, the KYC onboarding process is a key component of this.

01/ Increase automation and improve efficiency by having a robust internal process in place that enhances and streamlines existing ways-of-working.

02/ Centralize all KYC data, thus improving access to information, ensuring greater transparency and compliance, and enhancing governance processes.

03/ Reduce manual intervention and speedup the KYC process through digitalisation.

04/ Improve the Mocoh customer experience by providing an elegant and secure portal to facilitate on boarding and renewal.

“Our objectives were: streamlining the process, automation, improving workflow and consistency.”“With teams working all over the world, we need a structured approach.”

Mike Shaw, COO, Mocoh

Simply Know Your Customer

Komgo’s Check solution delivers a simple and elegant way to onboard counterparties and manage KYC, supporting the end-to-end process for both corporates and banks.

01/ Create digital KYC forms and questionnaires to receive structured data back from counterparties.

02/ Send requests and receive responses via the user-friendly counter party portal.

03/ Monitor progress via interactive dashboards, and benefit from visibility on the audit trail.

04/ Integrate with internal systems or third party data sources to facilitate initial and ongoing screening.

“Check has become integral to our business operations. We’ve achieved more than we expected.”

Mike Shaw, COO, Mocoh

Feedback and Results

By implementing Check, Mocoh has achieved its primary objectives of bringing greater consistency, accuracy and transparency to the onboarding and renewal process.

01/ Time taken to onboard a client has improved greatly, driven by a reduction in manual and repetitive steps.

02/ Email traffic has reduced significantly, and interactions are more easily followed and viewed because counter party communication is managed entirely on platform.

03/ Senior management has gained visibility on each counterparty across the business, as the data from Check supports monthly reporting requirements.

04/ All new counterparty organisations and individuals are screened using a third-party data provider integrated directly with theCheck API.

“Check is not only used to request and find information, we also use it to store all the information we have on our counterparties – it’s our single source of truth for reporting purposes.” “It is also great for accessing historical information, because rather than going back through emails and searching for documents, we now have everything in one place.“

Liza Falzon, KYC & Compliance Officer, Mocoh

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