One of the most common comments we hear from senior leaders of Client Onboarding, CLM or KYC functions in Financial Institutions, is that their Front-Office is frustrated with these processes.
Often, technology is held up as the solution to this problem, but in our experience, there are many underlying causes of their frustrations that are not related to technology and must be addressed before technology is brought into the conversation. In this blog, Matt Neill, Managing Director at BeyondFS, looks at the 5 common complaints from the Front-Office and the role policy, process, people, culture, data, and organisational design have to play in resolving these issues and delivering a better experience for the Front-Office, the end customer and Operations teams alike.