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04 Jul 2023
For continuous Know Your Customer (KYC), banks need new technology and better data
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At 1LoD’s recent Know Your Customer, or KYC, Deep Dive, leaders from the 3 lines of defence discussed the data and technology challenges that banks face in upgrading their legacy anti-money laundering, or AML, processes. Continuous KYC sounds good in theory, but does it really result in greater effectiveness and efficiency? And is it even feasible given current resources and technology? |