{"id":17124,"date":"2023-05-28T19:14:40","date_gmt":"2023-05-28T19:14:40","guid":{"rendered":"https:\/\/bulletins.bfconsulting.com\/?p=17124"},"modified":"2023-05-28T19:14:40","modified_gmt":"2023-05-28T19:14:40","slug":"why-kyc-automation-is-key-for-business-growth","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/why-kyc-automation-is-key-for-business-growth\/","title":{"rendered":"Why KYC Automation Is Key for Business Growth"},"content":{"rendered":"<p>The financial services industry is witnessing a growing emphasis on digital transformation as industry players attempt to meet rising customer expectations and improve their business efficiencies. At the same time, regulatory compliance still remains a priority. Traditional know-your-customer (KYC) processes in financial institutions rely on manual systems and often overlook and downplay innovative solutions such as dynamic KYC process automation that can enhance compliance and efficiency. However, financial institutions should start taking technology more seriously as it is essential for meeting both customer and regulatory expectations as well as for staying competitive and enabling future business growth. Automation in KYC processes saves time, improves customer experience, reduces onboarding periods and enables real-time access to critical data. In short, leveraging automation is crucial for financial institutions to thrive and achieve long-term growth.<\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-17124 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='The Importance of FinTech in Central Asia'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/the-importance-of-fintech-in-central-asia\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2021\/10\/0372bbc8-b4f1-e544-0553-3cb538a5ba3d1-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-16331\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-16331'>\n\t\t\t\tThe Importance of FinTech in Central Asia\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Mastercard and Getir power payments bot for Facebook Messenger'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/mastercard-and-getir-power-payments-bot-for-facebook-messenger\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2017\/12\/Mastercard-and-Getir-power-payments-bot-for-Facebook-Messenger-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-7566\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-7566'>\n\t\t\t\tMastercard and Getir power payments bot for Facebook Messenger\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='UK\u2019s Financial Conduct Authority calls for smarter regulatory reporting'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/uks-financial-conduct-authority-calls-for-smarter-regulatory-reporting\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/03\/entrepreneurs-showing-startup-business-project_3446-697-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-9276\" loading=\"lazy\" srcset=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/03\/entrepreneurs-showing-startup-business-project_3446-697-150x150.jpg 150w, https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/03\/entrepreneurs-showing-startup-business-project_3446-697-300x300.jpg 300w, https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/03\/entrepreneurs-showing-startup-business-project_3446-697.jpg 626w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-9276'>\n\t\t\t\tUK\u2019s Financial Conduct Authority calls for smarter regulatory reporting\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The financial services industry is witnessing a growing emphasis on digital transformation as industry players attempt to meet rising customer expectations and improve their business efficiencies. At the same time, regulatory compliance still remains a priority. Traditional know-your-customer (KYC) processes in financial institutions rely on manual systems and often overlook and downplay innovative solutions such &hellip;<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,16],"tags":[],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/17124"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=17124"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/17124\/revisions"}],"predecessor-version":[{"id":17125,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/17124\/revisions\/17125"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=17124"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=17124"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=17124"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}