Seven Key Focus Areas to Drive Effective KYC/CDD

Seven Key Focus Areas to Drive Effective KYC/CDD

Your financial institution (FI) is vulnerable to unnecessary risks with legacy approaches to KYC/CDD. And it can also prevent you from delivering exceptional customer experiences.

When it comes to understanding customers and their associated risks, every stage matters. Optimize each stage by following this playbook to deliver effective CDD:

  1. Capture critical customer information: Confirm identity and anticipate their expected behavior
  2. Enrich and validate: Build a trusted customer profile
  3. Ensure consolidated entity profiles: Link customer records and uncover hidden relationships
  4. Screen: Enable synchronized integration between CDD and screening solutions
  5. Risk score customers: Determine how to best manage customer relationships
  6. Review: Eliminate analyst challenges connected to incomplete data
  7. Monitor continuously for change: Leverage a proactive approach to KYC



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