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
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.
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.
