Compliance and fraud teams are never done with Customer Due Diligence. Customer behavior changes and risk profiles evolve as new threats and regulations emerge. Taking a perpetual approach to Know Your Customer (KYC) involves systematically reviewing accounts, transactions and risks. It’s not a check-the-box exercise, but rather an ongoing approach that embraces holistic data and deep analysis to protect the organization and re-engage customers. We discuss what perpetual/ dynamic KYC means and how to get there.
Defining what is perpetual/ dynamic KYC
Exploring the journey an organization takes in moving from periodic to perpetual/ dynamic KYC
Discussing best practices and practical considerations in adopting and operationalizing perpetual/dynamic KYC