Know Your Customer or KYC, is a critical part of anti-money laundering protocols. In a bid to reduce the risk and incidence of financial crime, financial institutions and regulated businesses must undertake a comprehensive checking and verification process for the entities with which it does business. As part of this process, meeting, and continuing to adhere to, the latest regulatory requirements is critical. KYC remediation ensures that each customer’s anti-money laundering risk is assessed in a timely manner and assigned risk ratings are updated based on the changes in KYC regulations. … Read More
KYC Remediation
Remediation brochure
NorthRow’s remediation solution allows you to efficiently update, inaccurate or out-dated client data to ensure you continue to comply with all of the very latest regulation. … Read More
What is KYC remediation?
Know Your Customer (KYC) is the process of verifying your customer’s identity, usually using compliance solutions and screening software. The goal is to identify the clients that are most at risk of financial crime. Verifying the identity of someone you … Read More
How to deliver your KYC remediation project
The importance of KYC remediation cannot be underestimated. With regulation continuing apace many firms are sitting on outdated client data that can expose their business to reputational damage and commercial risk. Whilst KYC remediation is a necessary evil, it has traditionally been a compliance headache. In this blog, we explore how best to equip your business to deliver efficient KYC remediation projects that support compliance, sales and the business as a whole. … Read More