Customers have a good reason to be upset with banks over their KYC processes, which tend to be complicated and costly. Given the pressure and timelines from regulators, it is understandable that banks have struggled to make KYC customer-friendly. With new technologies becoming rapidly available, now is the perfect time to set a new standard for eKYC solutions that would make compliance fast and cost-effective to implement. However, there is a key dependency that needs to be considered before a global solution can be delivered. This article provides some recommendations on how this could be achieved.
Setting a standard path forward for KYC
Published: 30 April 2018