Financial crime risk does not move on a fixed timetable. As customer relationships, behaviours and risk factors change, compliance processes must be able to keep up. In this conversation, Tom Devlin, Managing Director of KYC360, part of Experian, explores how financial crime compliance is evolving, covering topics such as the the limitations of periodic reviews, the emerging role of Customer Lifecycle Management (CLM), the role of AI in compliance, and the foundations needed for successful technology transformation..
Watch the Full Interview
Hear Tom’s perspective on the challenges facing compliance teams today, what firms can do to manage risk more dynamically, and where technology can make the biggest difference.
Explore the Conversation
You can also watch shorter sections from the interview below, covering some of the key themes discussed throughout the conversation.
Challenges of Scaling Financial Crime Compliance
As firms grow, compliance processes that worked at a smaller scale can quickly become difficult to sustain.
Challenges of Running Periodic Reviews at Scale
Fixed review cycles can create significant operational burden and customer friction, particularly for firms managing large customer bases.
Turning Compliance into a Competitive Advantage
More efficient compliance processes can do more than reduce risk. They can also improve onboarding speed, lower costs and reduce time to revenue.
Key Considerations for a CLM Transformation
Successful CLM transformation depends on more than technology, with people, process and clear strategic objectives all playing a critical role.
AI and Automation Outlook
AI and automation offer real potential to reduce manual work and give compliance professionals more time to focus on the areas that require human judgement.
The KYC360 platform is an end-to-end solution offering slicker business processes with a streamlined, automated approach to Know Your Customer (KYC) compliance. This enables our customers to outperform commercially through operational efficiency gains whilst delivering improved customer experience and KYC data quality.
