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In the rapidly evolving landscape of banking, client onboarding and compliance practices have undergone significant transformations over the years. With the rise of digitalization, regulatory changes, and increasing cybersecurity threats, the banking industry has had to adapt and innovate to ensure efficient and secure processes. As we move along 2024, let's explore the evolution of client onboarding, Customer Due Diligence (CDD), and Know Your Customer (KYC) practices, and what the banking industry can expect in the coming years.
The Evolution of Client Onboarding and CDD/KYC Practices
What to Expect in the next 2 years
Conclusion
The evolution of client onboarding and CDD/KYC practices in banking reflects the industry's commitment to innovation, regulatory compliance, and customer-centricity. As we look ahead to 2025, banks will embrace digital transformation more than ever before, collaborate with technology partners, and prioritize security to deliver seamless, secure, and compliant onboarding experiences for customers in an increasingly dynamic and competitive landscape.
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Oliver Tearle Head of Technology Innovation at The ai Corporation
23 June
Katherine Chan CEO at Juice
Diederick Van Thiel Visionary Board Member | CEO | NED at AdviceRobo | IKANO Bank | Ikano Insight
Nkahiseng Ralepeli VP of Product: Digital Assets at Absa Bank, CIB.
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