KYC

KYC practices have been long used in the financial sector. However, with fraud and financial crime more prevalent than ever, is perpetual KYC the evident next step?

In a recent post by RegTech firm Encompass Corporation, it provided an outline of why the cost of inefficient KYC practices can be higher than expected. 

The ongoing AI revolution is indisputably transforming risk management and customer identification processes (KYC), even though human input remains pivotal to these functions. Moody's Analytics recently delved into how AI will transform risk management and know your customer (KYC) compliance.

As part of its continuous efforts to enhance data orchestration within Know Your Customer (KYC) parameters, KYC Portal is launching a new feature designed to provide increased flexibility in the integration with third-party data sources.

In the ongoing global efforts against money laundering, the task of comprehending customer identities has proven to be a crucial element in Know Your...

The FinTech landscape is increasingly gravitating towards perpetual know your customer (KYC) protocols. As part of this evolution, the operational pillars are rapidly transforming. Graham Bailey, COO of Quantifind, and Brian Kindle, VP of product development at ACFCS, shed light on this shifting terrain in a new podcast on the foundational elements of perpetual KYC.

Encompass Corporation, recognised as the leading provider of dynamic Know Your Customer (KYC) process automation, recently named Cheri Burns as PR & Corporate Communications Director. Her new role will be central to steering media relations for the firm.

Organisations worldwide are increasingly seeking ways to optimise their customer risk assessment (CRA) and anti-money laundering (AML) risk management strategies. Implementing effective CRA and AML procedures plays a crucial role in providing an accurate analysis of the potential risks that new clients might pose.

The traditional Know Your Customer (KYC) approach harbours certain limitations. Customers escalating to high risk can potentially fly under the radar, risking a bank's reputation and burdening its resources and internal controls.

As businesses deepen their digital capabilities, an orchestration tool becomes vital. When leveraging various tools, systems and datasets, firms need a single location that brings all this together, rather than forcing users to juggle everything.