{"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='How MyBucks is increasing financial inclusion among Africa\u2019s unbanked'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/how-mybucks-is-increasing-financial-inclusion-among-africa-s-unbanked\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/09\/how-mybucks-is-increasing-financial-inclusion-among-africa-s-unbanked-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-10834\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-10834'>\n\t\t\t\tHow MyBucks is increasing financial inclusion among Africa\u2019s unbanked\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Alternative lending startups changing traditional lending in India'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/alternative-lending-startups-changing-traditional-lending-in-india\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/05\/pexels-photo-602607-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-9884\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-9884'>\n\t\t\t\tAlternative lending startups changing traditional lending in India\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='BFC FinTech Monitor (July 2023)'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/bfc-fintech-monitor-july-2023\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2023\/07\/738adee8-1f81-a517-527f-7d3c841732751-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-17238\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-17238'>\n\t\t\t\tBFC FinTech Monitor (July 2023)\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}]}}