Whitepaper: The cost of KYC compliance and how to reduce it

KYC requirements are critical to preventing financial crime, but they also require costly and cumbersome checks on customers, impacting the bottom and top lines for financial institutions.

This new paper from Consult Hyperion explores the costs and pain points that KYC compliance creates and delves into topics including:

  • Quantifying KYC costs, including lost opportunity costs from customer abandonment.
  • A look at the impact of recent fines for KYC & AML failings
  • How technology can reduce the cost of KYC compliance while delivering a seamless user experience 

Please tell us a little bit about yourself

The right technology 

Discover how the right identity verification technology can help you meet AML and KYC regulations in a customer friendly, cost-effective way

The right technology can help financial institutions comply with and digitise the KYC process, and will also benefit banks by:

Reducing the risk of compliance failings

Cutting compliance costs related to manual processing

Converting more customers with a seamless KYC process

KYC IconThe need for a fast, frictionless and efficient KYC process has never been more pressing

In our increasingly digital society, financial institutions must find cost-efficient and effective ways to undertake these KYC checks in order to ensure that they remain compliant, inclusive and that they stop fraudsters without excluding legitimate customers

Learn more about the cost of KYC compliance and how to reduce it

Download the whitepaper