The rise of rate-for-risk: entering a new era The last days of the flat rate The widespread practice of a dealership charging every car-finance customer the same rate of interest is dying out. It may be simple, but it’s becoming risky and uncompetitive in today’s fast-changing marketplace. The move to rate-for-risk With rate-for-risk financing, the
UK financial institutions find themselves at the forefront of the drive against money laundering – a crime that is estimated to cost the UK economy £365bn each year, according to Transparency International UK. This paper lays out a transformative approach to KYC – one that frees institutions from continuous remediation cycles and manual processes through
KYC is one of the largest operational costs for UK banks. And yet each year, more and more fraudulent businesses infiltrate the system. It’s time for change. In this paper, Experian lay out a step-by-step approach banks can use to introduce automated event-driven reviews for KYC. This process dramatically reduces the volume of manual checks