Knowing your customers keeps them safe – and builds business compliance
Finance is one of the most highly regulated industries, meaning companies in this sector need smooth and efficient practices to onboard new customers while staying compliant and mitigating risks.
Genpact's know-your-customer (KYC) solutions help companies build efficient operations that improve customers' experiences and protect them from financial crime.
Our anti-money-laundering specialists support KYC transformation, increasing process efficiency and reducing risks.
Up-to-date compliance practices adhere to financial regulations, reducing the cost of risk management.
Meet regulatory requirements and exceed customer expectations through data management automation.
Companies using our solution saw up to
80%
automation of KYC due diligence data collection
Reduce inefficiency with three KYC advisory services
Prepare for change with three key advisory solutions:
- E-Direct: Get a current state analysis of KYC operations, including customer experience, data management, investigative techniques, reporting, expertise, culture, and technology
- Benchmarking: Examine core KYC operational processes, policies, and technology and compare key metrics with peer institutions
- Vision: Design a new KYC policy and process based on global KYC regulations
Cut back on manual, slow, and frustrating processes
KYC is a key part of onboarding and includes asking customers for information, but many institutions find this process slow and overly manual. They often struggle to gather the necessary data on time and face challenges with data quality and management, which further delays the process.
Our end-to-end solution addresses these concerns head-on by transforming KYC processes to rapidly increase efficiency, reduce risks, and lower the cost of compliance.
Global KYC compliance for a leading Australian financial institution
We collaborated with one of Australia's largest financial institutions to achieve global compliance with new KYC standards. We provided end-to-end support across advisory, technology, and operations. In addition, we implemented riskCanvas™, designed a data model, and automated the due diligence data collection. This improved the customer experience and made the process more efficient.
Enhancing efficiency with KYC automation for a European bank
We collaborated with a global institutional bank headquartered in Europe to automate up to 80% of the KYC due diligence data collection and reduce the percentage of files going back to customers for additional information. This greatly increased the bank's efficiency and improved customer satisfaction by streamlining the onboarding process.
