KYC Issues & Approaches
31 Mar 2020
It seems there is no real solution in sight for a more streamlined, automated, simple and automated KYC process
- KYC remains a manual, troublesome, time consuming and inconsistent process across and within bank groups.
- In addition lines between KYC and AML requests seem to be blurred.
- Good news is that some banks are (much) better than others.
- There seems to be a limited number of vendors daring to tackle the conundrum but SWIFT’s offering seems to be a good solution or alternative, albeit limited to SWIFT customers
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