Breaking Free from Remediation

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

Transforming financial crime prevention

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