Tag: Customer Due Diligence
Neobanks and AML compliance: Building robust programs in the digital age
Neobanks have reshaped the banking landscape, boasting a customer base jump from 7.7m in 2018 to nearly 20m by the end of 2019 in the UK alone.
Overcoming barriers in the UK’s private investment landscape
The UK stands as a prime hub for venture capital within Europe. However, the private investment scene has recently seen a downturn, exacerbated by economic instability and inflatory pressures.
Navigating the nuances of KYC and KYB in modern AML strategies
In the evolving landscape of financial regulation, institutions face increasing pressure to implement robust due diligence systems.
How KYC is reinventing financial security standards globally
The battle against financial crime is ongoing and complex, with Know Your Customer (KYC) protocols at the forefront of safeguarding compliance and securing business...
Exploring Australia’s AML reforms: Napier AI’s take on simplifying compliance
The Australian Government recently unveiled a consultation aimed at overhauling its AML and CTF strategies.
Navigating the complex world of customer due diligence regulations
Customer Due Diligence (CDD) stands as a cornerstone in the ongoing battle against money laundering and terrorist financing. It compels regulated entities to collect and verify personal details—name, address, date of birth, and government-issued identification—from customers to authenticate their identities and assess potential financial crime risks.
Napier AI’s call for smarter CDD practices in HM Treasury’s latest...
Napier AI has responded to a consultation from HM Treasury, the UK government's economic and finance ministry, on enhancing the effectiveness of the Money Laundering, Terrorist Financing, and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs). These regulations require businesses to identify and prevent money laundering and terrorist financing.
Navigating the future with KYC Portal CLM: Transforming risk management in...
In the swiftly evolving FinTech sector, risk management professionals are constantly seeking advanced solutions to handle the complexities of their field. The surge in...
5 reasons why asset managers must embrace FCC automation
In an era where digital transformation is paramount, asset managers are recognising the indispensable role of automating Anti-Money Laundering (AML) processes.
Enhancing onboarding: The strategic edge in bank customer due diligence
In the competitive landscape of banking, customer onboarding emerges as a pivotal phase, with customer due diligence standing at its core. When managed poorly, the onboarding process can deter potential clients, causing banks to miss out on new revenue streams. Conversely, hasty or inaccurate due diligence could lead to the acquisition of customers who pose commercial and reputational risks, potentially incurring hefty regulatory fines.
