This IDC Perspective focuses on the use of industry clouds for KYC compliance. This document highlights the many opportunities and challenges associated with adopting an industry cloud approach to KYC.
Steven D'Alfonso, research director, IDC Financial Insights, reports, "Many financial institutions view KYC compliance as a top priority because of evolving regulatory requirements and the threat of punitive fines resulting from violations. KYC industry cloud may offer an alternative business process that can lead to cost reductions, reduced errors, and other benefits."
Big data analytics and discovery, Cloud-based partners, Cognitive/artificial intelligence, Customer relationship management applications, Governance, risk and compliance infrastructure, Software as a service, Technology buyer