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Webinar - The KYC challenge: Achieving compliance while improving the customer experience

30 August 2016  |  49444 views  |  0 Source: Finextra Gemalto logo


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The challenge for financial institutions to comply with ‘Know Your Customer’ (KYC) rules as part of the Anti-Money Laundering initiative is increasing. More and more regulations require KYC checks and banks must prioritise achieving compliance to play their role in tackling financial crime and to avoid fines and reputational damage. But there is a very real risk of the client experience being damaged as a result of the growing KYC burden – just at a time when banks need to focus on improving that experience to fend off the threat of new entrants, and when digital channels requiring speedy, smooth onboarding are becoming ever more important in banks’ strategies.

In short, banks must balance the imperative to be compliant on one hand with the imperative to offer world-class digital experiences to customers on the other. Otherwise, there is a danger that the customer experience will suffer as banks prioritise compliance and de-risk. And in this evolving landscape, with regulation driving competition and fintech powering a multitude of exciting new customer propositions, for banks to offer a poor customer experience makes little sense.

So how can banks achieve this balance between compliance and customer experience? Is KYC an opportunity to review the entire customer enrolment process and refresh it, both in branches and on new channels? This webinar will bring together a number of experts in KYC and client onboarding from across the industry to discuss key questions and issues including:

  • How is regulation driving complexity? How can global players best manage local regulations?
  • What other factors are shaping the environment in which banks operate? Is automation an opportunity to simplify processes for banks?
  • How does the increasingly digital environment in which banks operate impact KYC and AML? How can banks leverage technology such as ID verification in a way that keeps them one step ahead of the criminals, rather than one step behind?
  • How can banks manage their KYC compliance obligations while maintaining world-class service levels to customers? What are the internal challenges for banks in their various departments? What are the external challenges resulting from the new digital channels?

Speakers include:

  • Mark Mullen, CEO, Atom Bank
  • Brendan Reilly, Global Head of Client & Market Execution, Barclays
  • Nathalie Murat, Business Development Director, Gemalto


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