ebook

the digital KYC model

why regtech is vital for Australian regulated firms

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Industry insiders observe that a resetting of Australian institutions’ commitment to Know Your Customer (KYC) as a means of guarding the national economy against the corrosive effects of financial crime will lead to much-needed modernisation of business operating models.

Australian institutions can accelerate their own transformations and achieve world-class KYC operations by learning from the experiences of their peers in Europe, particularly the UK.

A modern KYC operating model augments the KYC experts already in place, with a business process that starts with a clear definition of policy and spans business, compliance and audit professionals organised as three lines of defence.

In this ebook, we look at how Australian institutions can:

  • create modern KYC operating models that minimise the risk of regulatory intervention, on-site inspections and enforcement actions
  • optimise investments in data and technology
  • accelerate opportunities for growing revenues

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