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Know Your Customer Solution Evolution

Publisher IDC
Published Nov 07, 2023
Length 6 Pages
SKU # IDC18300053

Description

Know Your Customer Solution Evolution


This IDC Perspective discusses the evolution of the know your customer (KYC) solution."The processes and availability technology for conducting know your customer functions at banks are evolving due to cloud computing, expanded data sets, and the integration of KYC solutions with other financial crime compliance solutions." — Sean O'Malley, research director, IDC Financial Insights' Worldwide Compliance, Fraud, and Risk Analytics Strategies

Please Note: Extended description available upon request.

Table of Contents

6 Pages
Executive Snapshot
Situation Overview
KYC Maturity
KYC — Rule-Based Approach
KYC — Risk-Based Approach
Data Privacy
Data Security
AI and Expanded Data Sets
Periodic Review Versus Real-Time Updates
Client Life-Cycle Management
Integration with Other Financial Crime Solutions (Transaction Monitoring and Fraud)
Advice for the Technology Buyer
Learn More
Related Research
Synopsis

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