What will disrupt KYC?
Moody’s Talks: KYC Decoded
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Enhancing Compliance with AI and Data in Financial Services
The chapter explores the challenges and advancements in KYC and KYB processes, emphasizing the importance of thorough verification and utilizing multiple data sources for efficient onboarding. It discusses the evolution of KYB processes towards sophisticated data sources, highlights the importance of data sharing for transaction monitoring, and stresses the significance of AI and data for operational efficiency. The conversation also touches on the potential of open banking to address authentication, fraud detection, and user experience in financial services.
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