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White Paper

Is KYC Killing Your Career in Digital Banking?

In order to optimize digital banking experience for your prospects and customers, it is essential that financial institutions improve mobile banking. Why? More than 70% of consumers want to open bank accounts digitally, but only 8% of new account applications started on a mobile device are being completed in a single digital session.

Risk management requirements may be the culprit. You should consider how risk and compliance requirements are creating friction, and re-think your institution’s approach to Know Your Customer and Customer Identification Program (CIP) requirements by:

  • Using the latest technology to digitize risk management
  • Go beyond the basics with additional sources of identity data
  • Strengthen behind the scenes controls with real-time fraud analytics

Read this article to keep KYC regulations from killing your career in digital banking. It’s time to reinvent your approach to risk management.

Average annual cost of cybercrime in the financial services industries is $20.8 million. What you can do to win the fight

Continuing Content

Datasheet

Digital Banking: Secure Apply for Online Account Opening

Often times, consumers question if they are opening new accounts on a secure online banking system. To securely drive growth, you should re-evaluate risk management processes that may be interfering with the customer experience.

Video

Speeding Up the Account Opening Process

Many banks aren't meeting prospective customers' digital expectations, and could be losing accounts as a result. Subject matter expert Kimberlee Mineo, Bottomline Technologies, provides insight into maximizing the value of the digital channel

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