Financial Institutions’ Know Your Business (KYB) data requirements are stringent but necessary in the context of our multi-trillion dollar global financial crime problem. This data help institutions understand their clients’ motives, allowing them to rule out, within a reasonable margin of error (risk tolerance), the likelihood that a corporation is being used for illicit activities. … Read More
KYB
Overcoming the challenges of fragmented KYB
Mounting regulatory pressure and heightened customer expectations are prompting firms to turn to KYB tools in pursuit of seamless onboarding and robust AML compliance. However, the multi-phased nature of KYB has, in some cases, encouraged a piecemeal approach to process … Read More
6 time-saving tips for KYB compliance in legal firms
Know Your Business (KYB) compliance is essential for legal firms operating in the UK, but the burden of ensuring thorough due diligence while maintaining efficiency can be significant. To help navigate these challenges, here are 6 handy time-saving tips for … Read More
Increasing time to value from your KYB software provider to achieve your growth plans
In the regulated lending sector, the pressure to meet compliance standards while driving business growth is significant. Know Your Business (KYB) processes are essential, ensuring that your firm understands the entities it is dealing with, that you adhere to regulatory … Read More
Global KYB compliance at a glance: Streamlining your due diligence process
In the highly regulated lending industry, compliance with Know Your Business (KYB) requirements is both a legal necessity and a strategic imperative. For senior compliance professionals in regulated lending firms, the challenge lies in balancing stringent regulatory requirements with an … Read More
How to unravel complex corporate structures and unveil the truth behind international entities
In the highly regulated UK lending industry, the ability to understand and unravel complex corporate structures is crucial. Compliance teams are often tasked with the monumental job of ensuring that they fully understand the ownership and control structure of their … Read More
How single-solution KYB can simplify compliance and enhance efficiency in payments firms
As money laundering and fraud threats continue to evolve, regulated payments firms in the UK face growing pressure to enhance their compliance frameworks. This is particularly pertinent for risk and compliance leaders who are at the frontline of ensuring their … Read More
How to navigate KYB challenges in payments firms from the C-Suite
Navigating the complexities of Know Your Business (KYB) regulations is one of the most critical tasks for C-suite executives in regulated payments firms. As the regulatory landscape evolves, executives must stay ahead of compliance requirements while fostering a business environment … Read More
How to reduce KYB customer friction in lending and accelerate loan approval
Know Your Business (KYB) processes are crucial for lending firms, particularly in a heavily regulated market like the UK. Ensuring that businesses seeking loans are legitimate and financially sound is not only a regulatory requirement but also a fundamental step … Read More
Boosting application volume with KYB technology for lending firms
Implementing KYB (Know Your Business) technology can have a significant impact on the application volume of lending firms. By leveraging KYB technology, lenders can streamline their onboarding process and make it more efficient, resulting in a higher number of applications. … Read More