Compare · Spreadsheets and email
Counterparty due diligence on spreadsheets: when it works, and when it stops.
Spreadsheets and email are where most counterparty due diligence starts, and for a small book of low-risk counterparties they can be enough. They stop working when the book grows, the lists change daily and a bank, auditor or regulator asks you to prove what you checked and when. This page compares the two honestly.
LAST UPDATED OCT 2026
When a spreadsheet is still enough
If you deal with a handful of established counterparties in low-risk jurisdictions, rarely onboard new ones and nobody asks you for evidence, a well-kept spreadsheet and a disciplined inbox can do the job. Buying software for that situation is a cost without a return, and we would rather say so.
Where it breaks
The spreadsheet itself rarely fails. What fails is everything around it:
Side by side
Collecting documents
Spreadsheets and email
Requested and chased over email, saved by hand
KYCK
One invite; the counterparty uploads into a portal and you follow its progress
Getting data in
Spreadsheets and email
Retyped from PDFs into cells
KYCK
Extracted from the documents, each value linked to its source page
Ownership
Spreadsheets and email
A drawing or a note, if anyone mapped it
KYCK
Mapped to the beneficial owners and checked against the documents
Screening
Spreadsheets and email
Manual searches, results not recorded
KYCK
Sanctions, PEP and adverse media on the company and its people, with explainable matches and timestamps
When lists change
Spreadsheets and email
Nothing happens unless someone remembers
KYCK
Re-screen any counterparty on demand, with scheduled rescreening as an add-on
Approval
Spreadsheets and email
Email replies
KYCK
Approval tiers you configure, each decision recorded with approver, time and comment
When a bank or regulator asks
Spreadsheets and email
Rebuilt from inboxes and file versions
KYCK
Exported as a disclosure package
What switching looks like
Most teams start by sending new counterparties through the portal while the spreadsheet still holds the existing book. Existing counterparties then move across in batches, highest risk first, by being invited to refresh their KYC through the same portal. The spreadsheet does not have to disappear on day one; it just stops being the record you rely on.
Cost, honestly
A spreadsheet looks free because its cost is time: analyst hours spent retyping, chasing and searching, and the hours spent rebuilding a file when someone asks for it. KYCK's plans are published on the pricing page, so you can set one against the other with your own numbers. For what a complete file should contain either way, use the counterparty due diligence checklist.
Frequently asked questions
Can I do counterparty due diligence in Excel?
Yes, for a small and stable book. Excel records the result; it does not collect documents, screen names, notice list changes or record approvals, so each of those becomes a manual task that has to be evidenced separately.
What is the biggest risk of spreadsheet due diligence?
Not being able to prove what you did. A sheet shows a status, not which lists were checked, when, by whom and on what evidence, which is exactly what banks, auditors and regulators ask for.
How long does it take to move from spreadsheets to KYCK?
New counterparties can go through the portal from the first day. Moving the existing book is gradual: most teams start with the highest-risk counterparties and work down.
Do I need IT to replace spreadsheets with KYCK?
No. The platform runs in the browser and the portal is used by your counterparties; the API is optional, for teams that want KYCK inside their own systems.
Bring your spreadsheet to the demo.
Pick a counterparty from it and we run the same check in KYCK, so you can compare the evidence side by side.