Know Your Customer (KYC) compliance is no walk in the park for financial organizations. It requires assessing tons of data,validating information internally and externally, and collaborating with many different teams.
Financial organizations are often not equipped to overcome the many challenges that KYC compliance brings. As they try to make it work with disparate legacy systems, fragmented processes, and an overload of manual tasks, all while regulations continue to change and IT is backlogged, the onboarding process suffers and customer satisfaction is jeopardized.
KYC is an integral aspect of customer onboarding and both financial institutions and their customers benefit from automated KYC workflows. A low-code KYC solution is here to address financial organizations’ unique needs.
Read this eBook to learn more about the low-code solution to KYC and how it works for risk management in the financial services industry.