How to stop siloed technologies from turning ongoing KYC into a never-ending nightmare.
While a know-your-customer (KYC) file is created for each client at the time of onboarding, its contents must be continually reviewed and updated throughout the customer life cycle, according to the EU’s fifth anti-money laundering directive (AMLD5). But the complexity and number of scenarios that must be mitigated by KYC processes have also increased.
This comprehensive eBook will explain:
- Why you should treat KYC as the new backbone of banking customer experience
- How ‘point-to-point’ systems fracture the customer profile
- How intelligent automation enables consistent, centralised and dynamic KYC processes
- Nuanced and transparent approaches to managing the “maybe” pile of KYC cases
- How to avoid the tradeoff between volume and accuracy