Webinar on demand
Regulatory and customer expectations are increasingly putting pressure on financial institutions to change their approach to traditional Know Your Customer (KYC) activities. With the average bank taking over 25 days to onboard a new small and medium-sized enterprise (SME) customer(1) and a growing burden of cost associated with ongoing due diligence and periodic reviews, the current model of KYC is increasingly unsustainable.
In response, financial institutions are increasingly turning to new data-driven approaches to modernise their due diligence processes, spending a reported $905 million on KYC-related data in 2019.(2)
Join us to hear how a continuous, dynamic and technology-led approach to ongoing KYC monitoring can help reduce the overall burden of KYC activities and help financial institutions to more effectively detect risk in their customer book.
You will learn:
How to move to a risk-based, fully event-driven ongoing due diligence process and the benefits of doing so
How to evidence risk-based decisions using data and analytics
Why contextual decisioning technology is a key facilitator for this change in approach
Examples of how financial institutions have approached this change from a policy, architecture and change management point of view
How to take a first step forward towards Continuous KYC
(1) Thomson Reuters Cost of Compliance, 2016
(2) Burton Taylor report, 2019
You may be interested in…
How to Generate Commercial Value Through Customer Intelligence
Customer intelligence is critical for business success. Learn how to harness the power of customer context to generate commercial value.
How to Better Understand Your Customers Using Context
With laborious onboarding, refresh and remediation processes, the challenge of KYC compliance is continuously growing. Find out how a contextual approach helps you to reduce the time and cost of KYC by increasing automation and leveraging decision intelligence for continual monitoring.
IDC: Achieving Greater Business Value Through Data Using Decision Intelligence Based on Context
Download the topline Infobrief from IDC, which introduces their latest research and analysis on how companies can successfully build contextual data platforms to extract significant business value.
Contextual Decision Intelligence: Raising the Bar of AML Detection and Investigations at HSBC
In this webinar, leaders from Quantexa, Aite Group, and HSBC explore next generation AML technology and how organizations can transition away from manual processes and legacy systems.
How to Adapt to a Changing World Using Situational Awareness
Financial institutions that rapidly adjust to the changing world by developing situational awareness will be able to make better decisions, remain resilient and overcome the short-term and longer-term challenges stemming from COVID-19.
Monetizing Insurance Data Through Decision Intelligence
The world is a series of networks and this should be accounted for in your decisioning. By de-duplicating your internal data records and enriching it with external data sources, you can create a connected customer view across your firm.
Reveal hidden risks and detect criminal activity faster. Reduce false positives to manage the cost of compliance. And improve investigations to make faster and more consistent decisions at scale.
Identify potentially fraudulent activity by looking at people or transactions in isolation. Understand the context surrounding the organizations you do business with to make fast, accurate decisions.
Understand your customers, their business structures and supply chains. Make better lending decisions, faster. And support digital risk transformation.
Know Your Customer
Reduce significant manual effort across onboarding, refreshes and remediation. Automate checks, implement continuous monitoring, and focus on contextual decision making.
Generate a complete view of the context around your customers and prospects to build better relationships, reduce attrition and find hidden opportunities.
Master Data Management
Connect all data—internal and third party—to create a joined-up, contextual view of all the relationships between your customers and every other domain.
See how we help to reduce costs and improve coverage for financial crime compliance.
See how our platform uses contextual analysis to turn data into a high value asset.
See how our platform uses financial crime technology to enhance your existing IT ecosystem.