Why Financial Firms are Adopting a Perpetual KYC Approach

Published on Jun 07, 2024

The complex regulatory landscape and threat of harsher enforcement actions are forcing firms to review their compliance processes. It is crucial for firms to dynamically maintain accurate customer information as client risk profiles can change quickly. 

Benefits of Automation 

An automated approach can increase operational efficiencies and scalability.  It can also free up staff from burdensome repetitive work and allow them to focus on core business activities. However, there are a variety of challenges for firms considering a transition to pKYC. These include:  

  • Reliance on external data sources with unknown reliability  
  • Difficulty tracking the changing risk profile for a large volume of clients  
  • Customers being less willing to provide information after initial onboarding  

Manual KYC reviews are costly and labour intensive. The industry is moving towards an automated approach to streamline these reviews. Our modular pKYC solution frees up staff from burdensome manual tasks, allowing them to focus on tasks more aligned with core business activity. As a result, companies can comply and outperform with increased operational efferences and benefit from an enhanced customer experience that becomes a powerful competitive differentiator.
Stephen Platt, Founder and CEO at KYC360

See pKYC in Action


Comply and Outperform 

The KYC360 Perpetual KYC module allows users to automate the monitoring and updating of KYC information at scale. As a result, our clients see a reduced time to value and lower material costs allowing them to comply and outperform.  

Discover pKYC Solution

pKYC is part of our complete Customer Lifecycle Management platform

KYC360’s suite of Client Lifecycle Management software solutions is designed to transform your business processes enabling you to outperform commercially through operational efficiency gains and superior CX whilst remaining fully compliant with evolving regulatory standards.

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