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e-KYC Utilities: A Collaborative Future for Digital KYC & Compliance

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e-KYC Utilities: A Collaborative Future for Digital KYC & Compliance

The Know Your Customer (KYC) process is responsible for most customer onboarding delays, leading to prospect abandonment of the client onboarding process.

In this whitepaper, Fenergo explores the rising popularity of
KYC utilities across Nordics, Europe, Middle East and Asia and the key drivers behind these utilities – mainly the ability to transform the onerous KYC process and bring it into the 21st century of technology capabilities.

With access to up-to-date information, participating financial institutions can reduce the number of times they need to contact a customer for data or documents, thereby speeding up the onboarding process, improving customer experience and enabling financial institutions to generate faster time to revenue.

In this whitepaper, we discuss:

  • The current KYC challenges faced by financial institutions
  • The difference between Digital KYC and e-KYC
  • A snapshot of emerging and live e-KYC utility projects around the world
  • The benefits of an e-KYC Utility Service
  • The recipe for e-KYC Utility success

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