US-Based Global Bank Achieves Process Standardized Through Reduced KYC Complexity with Process Standardization for US-based Global Bank
US-Based Global Bank Achieves Process Standardized Through Reduced KYC Complexity with Process Standardization for US-based Global Bank
2 PagesCase Study US-based Global Bank Achieves Process Sta da diza o t roug Redced KYC Coplexity t Process Sta da diza o fo US-based Global Bank- Leading US-based Global Bank. Clie t Challe ge The client had 20 legacy KYC solutions, with more than 50 installed instances around the world. These KYC solutions were designed to meet local regulations, and reflected the KYC process at each Line of Business (LoB). There was little KYC process and solution consistency across the firm, and many of the tasks were performed manually, that led to process bottlenecks and high error rate. The use of inconsistent KYC solutions made the centralized customer data collection and management very challenging, if, at all, possible. The lack of consistent customer data significantly hindered the clie
