Part 2: Embracing Digital Transformation Across the Client Lifecycle
Every year, financial institutions are increasingly facing the challenge of having to spend more on compliance technology and personnel in order to remain compliant with the myriad of global AML and KYC regulations.
Due to this environment of increasingly stringent regulation and the resulting rise in compliance costs, digital transformation is now entering the uncharted territories of front, middle and back-office operations across Nordic commercial, investment, business and private banks.
In the second part of our two-part Nordics in Focus series, we explore:
- How financial institutions can digitalize the client lifecycle process to ensure compliance, increase operational efficiency and deliver a superior client experience
- The future potential of emerging new technologies, in the form of Artificial Intelligence (AI), Robotics Process Automation (RPA) and blockchain, to further automate routine AML and KYC processes and reduce associated regulatory cost pressures
Download Part 1: Navigating KYC Requirements: The Nordics in Focus:
In the first part of our Nordics in Focus series, we explore the key regulatory challenges facing Nordic banks, the true cost of operational and technological inefficiencies across the client lifecycle and how each of the five-member countries (Sweden, Denmark, Finland, Norway and Iceland) measures up from an AML and KYC compliance standpoint.