Fundamentally, delivering successful KYC automation into your organisation requires a combination of strong senior sponsorship, excellent programme management, a delivery team with the right skills and experience, and full collaboration within the organisation and any third parties.
Like all technology-led change, continual improvement is critical. It is important that organisations deliver regular incremental automation enhancements. While automation is an important step in the journey to increasing efficiencies and reducing costs in KYC, it is only one piece of the puzzle. Getting this right however will build the foundations for longer term transformation.
This blog was first published on Finextra.