What you don’t know can hurt you
Know your customer (KYC) is a fact of life for banks, non-banking financial institutions and other highly regulated organisations. Thorough due diligence checks help to mitigate the risk of financial and reputational damage that can arise from being associated with parties connected with terror or fraud.
The challenge is to implement rigorous checks on customers and counterparties without slowing operational processes or increasing costs. It’s a challenge that existing manual research processes simply aren’t up to. That’s where Online Compliance comes in.
