TECH BUYER Dec 2019 - IDC MarketScape - Doc # US44398519

IDC MarketScape: Worldwide Business Process Outsourcing for AML and KYC 2019 Vendor Assessment

By: Steven D’AlfonsoResearch Director, Compliance, Fraud and Risk Analytics Strategies

Abstract

This IDC Financial Insights study presents a 2019 vendor assessment of worldwide business process outsourcing (BPO) for anti–money laundering (AML) transaction monitoring and know-your-customer (KYC) service and technology providers in financial services. With regulatory demands and cost management pressures increasing, financial institutions are recognizing that outsourcing some, or all, of their AML and KYC operations is potentially a quicker way to reduce expense and improve quality rather than trying to achieve the same results through internal efforts.

According to Steven D'Alfonso, research director, IDC Financial Insights, "Outsourcing financial crime compliance operations to a trusted provider with advanced technologies and processes in place will increasingly become a favored option for banks of all sizes."


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