The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

A-Team Webinar Considers Collaborative Solutions for Client Onboarding

Collaborative industry solutions for client onboarding and Know Your Customer (KYC) processes promise banks significant benefits in terms of reduced cost and increased efficiency, but the practical implementation of these types of solutions is equally challenging in an environment where banks are at different stages of process automation and manage both similar and different customer data.

The need to improve client onboarding and KYC processes to meet regulatory requirements and remain competitive, as well as different approaches to the problem, including the utility model, were discussed during a recent A-Team webinar entitled Client and Entity Data for Client Onboarding. The webinar was moderated by Sarah Underwood, editor of Data Management Review, and joined by experts Julia Sutton, Group Customer Data Management, HSBC; Enrique Neves Martin, Reference Data Product Manager, Enterprise Solutions, Bloomberg LP; Jon Hanmer, Global Account Director, Bureau van Dijk; and Mark Bands, Head of Product Strategy and Regulatory Intelligence, iMeta Technologies.

The webinar participants discussed the drivers behind new approaches to client onboarding and KYC, including the need to support increasingly sophisticated sanctions screening, and noted the vast amount of data, ideally including unstructured data, that must be managed. They concluded that success stories are still in the making and are unlikely to emerge until banks rise above departmental solutions to client onboarding and KYC, and develop centralised, enterprise wide processes that are both efficient and adaptable to regulatory change. A last word of advice encouraged data practitioners to get together, discuss different approaches to client onboarding and KYC and share best practice.

To find out more about:

* The challenges of client onboarding and KYC

* Approaches to improve onboarding and KYC

* The potential of collaborative solutions

* Client and entity data requirements

* The role of sanctions data

Listen to the A-Team webinar here.

Related content

WEBINAR

Recorded Webinar: Adverse media screening – how to cut exposure to criminal activity, from money laundering to human trafficking

Screening for adverse media coverage of counterparties presents an incredible opportunity for financial institutions to limit risk exposures and identify bad actors early. It is required by regulations such as the EU’s sixth Anti-Money Laundering Directive (AML 6), and is one of the most effective ways to steer clear of potential connections with sanctioned activity...

BLOG

Fenergo Transaction Gives 70% Ownership to Astorg and BridgePoint at $1.64 Billion Valuation

After months of speculation, Fenergo has secured new ownership and capital for future growth in a deal that values the Irish provider of KYC and client relationship management software at $1.64 billion. Under the transaction, French private equity group Astorg and BridgePoint, a London-based hedge fund, have acquired a majority stake in Fenergo, buying out...

EVENT

RegTech Summit New York City

Now in its 5th year, the RegTech Summit in NYC explores how the North American financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Entity Data Management Handbook – Seventh Edition

Sourcing entity data and ensuring efficient and effective entity data management is a challenge for many financial institutions as volumes of data rise, more regulations require entity data in reporting, and the fight again financial crime is escalated by bad actors using increasingly sophisticated techniques to attack processes and systems. That said, based on best...