How does custom onboarding automation ensure compliance with Know Your Customer regulations?
Do you have trouble keeping up-to-date on changing rules of Know Your Customer (KYC)?
According to David Schneider of onboarding software company ComplyCube, "Doing KYC by hand takes too long, uses too much paper, and is easy to mess up. Many companies view following the rules as a chore, rather than important."
There is enormous pressure on banks to explore innovative technology that is easier to comply with regulations. They need fast and hassle-free tools for setting new customers up fast.
Custom onboarding automation is one such tool. Online enrolment and account opening are made more effective with the use of custom onboarding automation software, which combines processes and artificial intelligence.
When applied properly, this assists companies in complying with...