Q&A with Dermot Corrigan, CEO of smartKYC
17 Aug 2021 11:30 am by Sam Hemmant
Tell us about technological solutions to KYC, and smartKYC in particular?
Why do companies need to improve their approach to KYC?
What kind of customers are using your solution?
What challenges do they face around Anti-Money Laundering compliance?
How important is the quality of data going into your solution?
How is media data used in your solution?
What is the importance of media data in particular?
What does the process involve for a company considering moving from a manual to an automated process?
What are the benefits of automating the KYC process for companies?
We know from a client in Asia that they have saved between 30 and 50% of the time it used to take to do KYC. If you are doing due diligence on a high-net-worth individual, it could take up to a day to look for the directorships and shareholdings they have, do an adverse media search, and check their legal record and relationships. smartKYC achieves that in 10 to 15 minutes and it’s only going to get better!
Find out more about how technology and data can help banks to meet compliance obligations in our brochure.