The latest EU Anti-Money Laundering directives and regulations will significantly increase the frequency with which financial service providers need to conduct ‘Know Your Customer’ (KYC) checks. To optimise the effectiveness of digital transformation initiatives, financial services and other regulated industries must find effective digital identity verification solutions.
Traditional methods for these identity verification checks represent an enormous cost for banks, payments processors, and lenders as most processes rely heavily on manual checks. Furthermore, these processes are cumbersome for users, driving away potential customers.
Figuring out how to balance the competing needs of compliance and costs against the expectations of today’s digital native users is key to any financial service provider looking to win and retain new customers.
Watch this on demand webinar to learn
- How to balance the competing needs of compliance and costs against the expectations of today’s digital native users.
- How to improve your onboarding and transaction UX to retain customers and users.
- How digital identity document verification and facial comparison can help companies to meet KYC and AML requirements with minimal disruption to the customer experience.