Data Management Insight Entity Data, KYC and Client Onboarding The latest content from across the platform

Datactics’ Addition of AI to Entity Data Resolution Delivers Significant Time Savings

Datactics has added an artificial intelligence (AI) server to its technology stack and is working on use cases that could save industry participants tens or even hundreds of hours spent on manual reviews of entity data matching processes. The company announced its intent to set up a dedicated AI Team led by Fiona Browne, previously…

Data Quality and Automation for Client Onboarding Remain in Critical Condition

Failing to get client onboarding right can cost firms eyewatering financial fines, reputational damage and long-term client avoidance. These are not new threats for traditional banks, which also face increasing competition from challenger banks, so why have they not sorted out how to get onboarding right? Webinar Recording: Client onboarding – how developments in tech…

Fenergo Launches Digital KYC

Fenergo today announced the launch of a new product enhancement, Digital KYC, a real-time, rules-driven, API-enabled KYC solution enabling financial institutions to automate and perpetuate KYC compliance reviews. The product works with existing client lifecycle management (CLM) solutions, automating continuous customer due diligence (CDD) reviews for low to medium-risk clients and reducing the need for…

Widespread Adoption of LEIs Could Save $2-4 bn per Year, Finds GLEIF/McKinsey

New research conducted by McKinsey on behalf of the Global Legal Entity Identifier Foundation (GLEIF) has found that wider use of Legal Entity Identifiers (LEIs) across the global banking sector could save the industry around $2-4 billion annually in client onboarding costs alone. With estimated total industry spend on client onboarding equal to $40 billion…

Finantix Reviews Wealth Managers’ Digital Client Acquisition

Finantix has released the results of a wealth management market survey, ‘New Client Acquisition: How can technology drive sales effectiveness in wealth management’. The survey shows a shift by wealth managers towards a more digital approach to client acquisition: 87% said they will increase digital lead generation in the next 24 months, with 54% making…

Recorded Webinar: Client onboarding – how developments in tech and automation can help optimise entity data management and improve KYC

Financial services providers spend billions of dollars a year on Know Your Customer (KYC), client onboarding and due diligence. Yet even with vast investment, these processes rarely run smoothly. They also fall short of delivering a good client experience and fail to cut down on financial crime. At the heart of the problem–and solution–is data….

Recorded Webinar: How to capture and manage complete and accurate customer data

Whether you work on the buy-side or sell-side, the customer is always king. This requires investment banks, asset managers and wealth managers to ensure they have a complete and accurate view of customer data. If you can achieve this, you can take a data-driven approach to decision making whether in obtaining better behavioural insights, offering…

Refinitiv and Trulioo Partner on New Digital Identity Product for KYC

Refinitiv today launched Qual-ID, a new solution combining digital identity verification and document proofing from Trulioo with risk screening from its World Check database to help improve digital onboarding of consumers and compliance with KYC and anti-money laundering (AML) regulations around the world. The launch follows the decision earlier this year to withdraw the firm’s…

Refinitiv Adds Regulatory Reporting Solutions to Verified Entity Data as a Service

Refinitiv continues to build out the Verified Entity Data as a Service (VEDaaS) technology it acquired with Avox back in March 2017 with the addition of modular, enhanced data services supporting the entity data requirements of regulatory reporting. The company has released modules for FCA transaction reporting, European Markets Infrastructure Regulation (EMIR), Dodd-Frank, AnaCredit, and…

Comments on the FSB’s Recent Report on the Global Legal Entity Identifier (LEI) Initiative

By: Allan D. Grody, President, Financial InterGroup. It is over a decade since the CFTC and SEC, along with the newly organized US Treasury’s Office of Financial Research, called for a legal entity identifier (LEI) for all those financial market participants involved in the newly regulated OTC derivatives markets. The US regulators’ interest in the…