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Feb 2018 - IDC Perspective - Doc # US41799817

The Use of Industry Clouds for KYC Compliance

By: Steven D’AlfonsoResearch Director, Eric NewmarkProgram Vice President, Cloud, SaaS and Industry Cloud

Abstract

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."


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