“We can’t keep waiting”: Why corporate treasurers are demanding a new standard for KYC

For corporate treasury leaders, onboarding and KYC reviews are no longer just compliance exercises. Instead, they’ve become critical to gaining confidence, maintaining control, and driving commercial impact.

However, despite this shift in importance, the experience still falls frustratingly short for many corporates.

Corporate treasurers can quickly recall a war story. Often, it begins with the excitement of a new banking relationship, an international expansion, or the launch of a new treasury structure. But then, momentum is stalled, dragged down by the all-too-familiar grind of manual, repetitive Know Your Customer (KYC) compliance.

KYC is failing corporate treasurers and it’s holding business back

The requests come fast and often, and the same documents are submitted repeatedly. Although, the same questions return in slightly different formats and the weeks go by and emails pile up. As a result, business momentum stalls.

KYC is no longer a back-office formality

For modern corporates, KYC is now a front-line function that directly impacts access to financial services, liquidity planning, and ultimately, the speed at which business can move. Yet, in too many cases, KYC remains manual, repetitive, and insecure. Even worse, it’s still designed around the needs of the bank and not the customer which is frustrating and unstainable.

The breaking point has arrived

Encompass’ second corporate treasurer survey, gathered insights from 250 corporate treasury leaders across the UK and US. The results reveal a stark picture of declining trust and rising frustration with onboarding and KYC reviews, where legacy processes are increasingly out of step with modern business needs.

The findings speak volumes and show that the traditional KYC model no longer works:

• 84% of corporate treasurers are dissatisfied with their KYC experience
• 92% report being asked for the same information multiple times
• Nearly half have abandoned onboarding processes due to delays
• 83% say those delays resulted in lost revenue or missed opportunities

The new standard: digital agility, security and speed

Banking relationships are no longer built on history or loyalty alone. Now, they rely on digital agility, data security, and responsive service that matches the pace and complexity of corporate operations.

Treasurers are speaking up and taking action

Corporate treasury leaders aren’t staying silent. They’re voicing their concerns, and backing those concerns with action. Business is now being redirected and relationships are under review with expectations rising.

As digital transformation continues to reshape industries, corporates are increasingly unwilling to tolerate delays, repeated requests, and insecure data exchanges.

They demand speed, visibility, and control. More importantly, they want partners who understand the urgency of operating in real time.

The good news: A better model is emerging

While the report exposes deep-rooted pain points, it also reveals a clear path forward.

Corporates are no longer waiting for change, they’re driving it. At the heart of this shift is the recognition that KYC, when done right, can be a strategic enabler. It can strengthen relationships, accelerate deals, and build long-term trust.

EC CoorpID puts corporate treasury leaders in control of KYC

That’s exactly what EC CoorpID was built to deliver. Instead of starting from scratch every time a KYC request comes in, EC CoorpID allows corporate teams to centralize, structure, and securely share their information; once, and with confidence.

Whether you’re onboarding with a new bank or undergoing a periodic review, EC CoorpID provides a real-time, single source of truth, curated by your team and safeguarded with industry-leading security.

• No duplication
• No chasing
• No confusion about who sees what, and when

With EC CoorpID, you are in full control. Sharing the right information with multiple partners, at the right time.

Confidence, control and speed

With EC CoorpID, treasury, compliance, and legal teams gain:

• Control over information, with a centralized platform that spans entities and jurisdictions
• Confidence in every exchange, with encrypted, auditable sharing that eliminates email dependency and reduces risk
• Speed to act, as KYC review timelines shrink and operational blockers are removed

In a world where business doesn’t wait, corporates need tools that move as fast as they do.

Discover what your peers are demanding

The Encompass 2025 Corporate Treasurer Survey highlights why corporates are abandoning reactive, fragmented KYC processes, and what they expect from their banking partners in return.

Read the full report to explore the key shifts driving onboarding reform, and what they mean for your business.