Tag: mckinsey
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.
ORX releases Controls Library with McKinsey
ORX, a global association of operational risk professionals, has launched the world’s first industry-wide Controls Library for operational risk.