Traditional methods of identity verification are contributing to lengthy and expensive KYC and onboarding processes. Technological advances, regulatory requirements and business necessity are leading organisations to a point where they have to rethink the way identity works.
With so many financial services institutions embracing digital, the big challenge is bringing together information about each client, from multiple systems to create one accurate client identity. Achieving this, while demonstrating robust and compliant KYC capabilities, is causing costs to spiral.
Rob Laurence, Director at Innovate Identity, talks to Jodie from the Identity & KYC Conference to share some practical insights into how these challenges can be tackled.