How well do you know your customer? As the pandemic continues on a global level, your clients’ risk status is changing at unparalleled speed. Effective ‘continuous KYC monitoring’ is essential for Compliance Officers if they want to stay ahead of the criminals. In 2020 firms have made significant investments in digitally transforming the front end of compliance at the point of onboarding, however many firms have not digitally transformed their monitoring processes, exposing their business to increasing levels of risk. In this blog we explore ongoing monitoring further. … Read More
Identity verification
Ongoing KYC Monitoring
Effective ‘continuous KYC monitoring’ is essential for Compliance Officers if they want to stay ahead of the criminals and satisfy the regulators. During 2020 many firms expedited the digital transformation of the front end of compliance, at the point of onboarding, due to the global pandemic and the need to meet the demand for digital interactions. These investments should now be used across the entire customer lifecycle to avoid exposing their business to increasing levels of risk. In this blog we explore the importance of ongoing monitoring in 2021. … Read More
Automated Client Onboarding
Efficient and ‘friction-free’ client onboarding is the key to customer engagement for any regulated business, but the need to balance this against the demands of the regulators is critical. … Read More
Configurable Risk-Based Regulatory Rules Engine
The ever-evolving regulatory landscape in which firms operate in means client risk management is becoming more complex and time-consuming, ultimately impinging on the overall customer experience. To simplify the complexity of KYC onboarding and monitoring an agile risk-based rules engine is the answer.
In this blog, we discuss why a highly configurable rules engine is critical to the customer experience, operational efficiency and future-proofing of your compliance processes. … Read More
All-Time Spike in Commercial Lending: Minimise Your Risk and Ensure Profitable Lending
Commercial lending firms are bracing themselves for an increase in bad debt as the fallout from Covid-19 continues apace. In this blog we explore how lenders can minimise their risk and navigate their way to more profitable lending. … Read More
Remote Identity Verification
The challenge for regulated firms is to provide remote and seamlessly onboarding experiences for their clients, without compromising their security and compliance obligations. Does there need to be a trade-off between delivering compliance with speed and convenience? In this article we summaries a discussion between Adrian Black, NorthRow’s CEO, and Andrew Bud (CBE), iProov’s CEO, as they delve into this topic. … Read More
Client lifecycle KYC management: Taking a holistic approach
Managing your client’s data is more than a regulatory box-ticking exercise. An effective Know Your Customer (KYC) and Customer Due Diligence (CDD) compliance operation can deliver increased productivity and improved accurate risk-scoring, whilst reducing operational costs and a substantially improved customer experience. In this article, we explore the importance of implementing an efficient Client Lifecycle KYC Management process. … Read More
Digital Transformation Meets Regulatory Compliance
Business leaders often see digital transformation as a way to drive growth and streamline operations, whilst strengthening customer relationships. Sales and operational functions are often the first to see digital investment with compliance usually being the last. … Read More
Will a Cashless Society Be the End of Financial Crime?
The pandemic has accelerated the transition to a cashless society as UK retailers have banned the use of cash in their stores and are only accepting contactless and credit card payments. It is a widely held belief that a cashless society could potentially decrease financial crime and reduce money laundering activity. In this article, we explore whether a cashless society could actually end financial crime or simply drive criminals to use more sophisticated digital methods. Learn more. … Read More
How FinTechs Are Transforming SME Lending
The unprecedented uncertainty caused by the pandemic is having a profound impact on SMEs around the globe. Lenders must ensure they deliver funds quickly and efficiently to help ensure the survival of small businesses. With lockdown measures still in place for many, we how lenders can deliver faster funding for SMEs during the coronavirus (COVID-19) crisis. … Read More