KYC is a central element in the customer onboarding process and the risk-based transaction monitoring. But how effective is KYC really for efficient transaction monitoring? The content of transaction data is often poorly suited to fully understand what the transaction is about. A closer look into how to better understand your transactions.
At the risk of making it sound simple, RegTech is largely what its name implies: Regulatory Technology. That means the use of new technologies to facilitate compliance with regulatory requirements. In other words, RegTech aims to provide easy-to-integrate and cost-effective compliance solutions. Banks are currently facing the big challenge of coping with the flood of new regulatory requirements, which has