Process

Maintenance Enabling continuous compliance

Are your client monitoring and periodic review processes as efficient and streamlined as possible?

Onboarding can often be seen as relatively straightforward when compared with maintaining the client record. Maintaining accurate and up to date client data is a key regulatory requirement and often a significant operational challenge, managed through an annual refresh cycle based on the client risk profile.


Key questions

  • Does your team currently have a significant periodic review backlog?
  • Does your team struggle to manage the peaks and troughs in the refresh cycle?
  • How prepared are you for the move to ‘perpetual’ KYC?

Aspirational State

Client maintenance is moving towards real-time or ‘perpetual’ monitoring. In the future, maintenance should be ongoing and continuously updated either as customers inform you of changes, or as your team discovers these through external data review or the transactional behaviour of the client. Building core foundational capabilities around data, technology, process and people will be critical to support this change.

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