Loading...

Grow internationally while staying on the right side of KYC regulations

Published: May 4, 2016 by Gary Stockton

kyc-banner

Businesses are looking to international markets to fuel growth, but meeting regulatory requirements across the globe poses significant challenges. Changes in Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements are evolving at break-neck speed. In the past few years, financial institutions and corporations have incurred billions of dollars in fines, reputation damage, and even the possibility of criminal prosecution for not enforcing adequate regulatory controls.

KPMG found that 70 percent of its respondents had received a regulatory visit within the past year focused on KYC and total investment in AML had increased by an average rate of 53 percent. As large as this additional investment may seem, there may be an even bigger cost to doing regulatory compliance the right way. For many businesses the customer experience is the biggest casualty of implementing a robust KYC program.

In their Vision 2016 breakout session “Know your customer, meeting commercial requirements in a global marketplace,” Greg Carmean, Experian senior product manager, will be joined by Adel Shrufi, software development manager at Amazon Transaction Risk Management Systems.

They will discuss:

• How to streamline compliance to optimize the client experience
• How to evaluate and select the best vendors to reduce compliance costs and operational vulnerabilities
• What businesses need to consider to ensure successful launches in new international markets

Watch our session preview video below:

We’ll look forward to seeing you as we provide a road map for growth at this year’s Vision conference.

7534-Vision-2016-400x100-F

Related Posts

If you're looking for a competitive edge in 2020, Vision is your ticket into differentiating your organization with the latest insights and innovation.

Published: February 6, 2020 by Stefani Wendel

Day 2 of the annual conference covered topics ranging from alternative credit data and regulatory compliance to marketing analytics and fraud.

Published: May 7, 2019 by Stefani Wendel

Day 1 of Vision 2019 kicked off with remarks from the CEO, Group President, and a keynote by Gary D. Cohn, Former Director of the U.S. Economic Council.

Published: May 6, 2019 by Stefani Wendel

Subscription title for insights blog

Description for the insights blog here

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Categories title

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book.

Subscription title 2

Description here
Subscribe Now

Text legacy

Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock, a Latin professor at Hampden-Sydney College in Virginia, looked up one of the more obscure Latin words, consectetur, from a Lorem Ipsum passage, and going through the cites of the word in classical literature, discovered the undoubtable source.

recent post

Learn More Image