How Kajo Helped Bank Frick Simplify the Compliance Process with Payment Networks

An interview with Sandra Willi, scheme compliance and underwriting operations manager at Bank Frick.

Mar 21, 2024

About Sandra Willi

Sandra has built a solid career in the finance industry, accumulating more than 20 years of experience. She joined Bank Frick in 2019 and has since been responsible for managing compliance and underwriting operations in e-commerce.

Please tell us about the challenges you were facing in the scheme compliance process.

Before adopting Kajo, we dealt with a lot of manual tasks. We needed to constantly monitor the Mastercard and Visa portals for all the latest updates, examine all information thoroughly, and identify the parts relevant to our role as a European acquirer. This process also required us to determine which teams in our company would be affected, inform them about the updates, and ask for their feedback on the compliance status.

When multiple departments were involved, we actively reached out to each stakeholder and held frequent internal meetings to keep everyone informed and clear about their tasks. This process was also quite time-consuming.

The administrative work and communication were getting heavier, given that the schemes’ frequency of publishing new compliance requirements was not slowing down.

In addition, the varying methods of managing and tracking compliance within our team sometimes added to the complexity.

Why did you choose Kajo?

We had been seeking a long-term solution to streamline our processes, yet we did not find one until we encountered Rivero, a European FinTech.

The simplicity and user-friendliness of their system stood out to us. Instead of an overly complex compliance solution with unnecessary features, we wanted a straightforward solution dedicated to scheme compliance.

How did Kajo help with operational efficiency in the scheme compliance process?

Kajo has notably streamlined our processes. Distributing bulletins and informing various impacted stakeholders is now as simple as a click of a button. I can effortlessly review Kajo's suggestions about the impacted stakeholders and ensure that the relevant people are assigned to the bulletin or determine if someone else needs to be involved.

The bulletin overview greatly aids in tracking our compliance status, clearly showing what has been completed and what is still pending. This level of visibility is essential, especially when involving multiple departments. We sometimes have compliance requirements that involve several teams, including operations, risk, compliance, and finance. Kajo has made collaborating in these cases much more efficient compared to past experiences.

Moreover, Kajo notifications make it easy to track when a stakeholder provides feedback and when a task is completed.

The way we communicate and collaborate on the compliance requirements within the organisation has improved significantly. Previously, numerous meetings and calls were necessary to ensure everyone had the same understanding of the tasks. Now, we efficiently use features like notes and comments in Kajo to communicate and stay informed about the compliance activities of other teams on the same requirement.

Adopting Kajo has enhanced our processes and work practices and has brought about notable improvement. Getting started with Kajo was relatively easy, and the feedback from everyone in our organisation has been positive, regarding the solution as simple, easy to navigate and intuitive.

What is your experience working with Rivero?

Working with Rivero has significantly streamlined and simplified our processes. The tool is very user-friendly. Kajo is a straightforward solution which focuses on scheme compliance. Tracking tasks and gaining a comprehensive view of the status of each department and all individuals involved is very easy.

The Kajo team and customer support receive a five-star review from me. Their solution-oriented approach makes working with them a delightful experience.

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