The Case for Ongoing KYC: Why the Time for Change is Now

Featured Speakers :
WHEN : 10/21/2020 1:00 pm 2:00 pm

Complimentary webinar, presented by Silent Eight

Lately it seems that everyone in the financial compliance world is talking about the notion of ongoing or perpetual KYC. This refers to the act of moving away from the often manual, periodic reviews and instead conducting KYC reviews on a regular or evergreen basis.  Sujata Dasgupta, Global Practice Head of Financial Crimes Compliance of Tata Consultancy, has suggested that ongoing KYC is a necessary “backbone” to a strong compliance function. But she recognizes that very few banks are actually doing it.

With FinCEN recently reporting that it is preparing to modernize its AML requirements for financial institutions in order to better respond to the dynamic threats posed by “illicit finance,” it will be no surprise that those may likely include updated guidelines for KYC.

In this session, join leaders in the banking, finance, and technology sector to hear firsthand what the current pain points and needs are related to KYC; why this is such a pressing issue; and what solutions are available to help solve these challenges.

In this webinar, you will learn:

  • What “ongoing KYC” is
  • Why this type of KYC is critical for fighting financial crime and enhancing compliance
  • What common pain points are within banks and FIs and how they can be remedied
  • How AI can help

This session is eligible for 1 CFCS credits.

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