AML in 2020 – KYC utilities focus

A look ahead to AML and the role of KYC utilities

Successful compliance and risk management programmes within financial institutions depend on effective Know Your Customer (KYC) processes, yet most have found these processes to be onerous, both in terms of time and cost.

This is further complicated by an ever-changing and progressively stringent regulatory landscape.

As a result, consortiums of banks, governments and vendors have explored the possibility of reducing costs and improving customer service through the establishment of industry-wide KYC processors or utilities.

In this ebook, we bring you all you need to know about KYC utilities, as well as predictions for what lies ahead. We feature:

• insight into KYC utilities and their use
• a look at work currently being undertaken by Capgemini
• an illustration of the key processes in KYC utility customer onboarding

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