The regulatory scrutiny to create and maintain precise KYC data drives investments in today's KYC and AML efforts. The only effective way to meet these requirements is to automate the collection, verification and enhancement of customer data. Valuable time, cost efficiencies and time to revenue result.
Onboarding processes are becoming increasingly complex, as a result of heightened regulatory expectations (4th MLD) and increased sophistication of financial products and services. This complexity is compounded by the potential from not adhering to regulatory requirements, the cost of such processes and the negative impact on the customer experience.
As a result, many KYC teams don’t even bother trying to follow a KYC process, but just demand their front-office acquire the needed information.
Arachnys /Spotlight delivers a complete solution for KYC and onboarding.
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