Financial Risk Management

How to reduce time and complexity in identifying Ultimate Beneficial Owners

01 Sep 2021

The ability to comprehensively identify and verify corporate hierarchies and Ultimate Beneficial Owners (UBOs) has become increasingly important, but also very time-consuming. Most regulated businesses invest considerable resources to uncover the full picture. In this article I am going to discuss how we can simplify the process to reduce both tim...

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RegTech

7 Biggest Challenges of KYC Monitoring

11 Feb 2021

Many firms have taken the trouble to digitally transform their onboarding, but are wasting eye-watering sums of money and man-hours on inefficient processes when it comes to ongoing monitoring. And yet KYC monitoring is vital to ensure compliance with Money Laundering directives so where does it all go wrong and what can firms do to implement chan...

Big Data

Top 5 Compliance Challenges and Trends in 2021

12 Jan 2021

If we thought 2019 ‘was quite a year’ and that 2020 would bring some challenges, then how on earth do we begin to verbalise the last 9 months? Despite epidemiologists warning of a once-in-a-lifetime pandemic, the most advanced nations in the world were ill-prepared for the scale of the fall-out. The effects of which are still being felt, and will ...

Financial Risk Management

7 Barriers to Delivering Efficient KYC Remediation

05 Oct 2020

Due to time, cost and loss of productivity required to deliver a KYC remediation project, many firms delay activity or avoid the challenge altogether until the regulator comes to call. However, with the current market volatility and increasing levels of financial crime, sitting on a back-book of inaccurate or out-dated client data will expose your...