Traditional methods of identity verification are contributing to lengthy and expensive KYC and onboarding processes. Technological advances, regulatory requirements and business necessity are leading organisations to a point where they have to rethink the way identity works.
With so many financial services institutions embracing digital, the big challenge is bringing together information about each client, from multiple systems, to create one accurate client identity. Achieving this, while demonstrating robust and compliant KYC capabilities, is causing costs to spiral.
In this exclusive webinar Jodie Paula Cohen, producer of the acclaimed Identity & KYC conference, catches up with leading Identity expert Rob Laurence, Director of Innovate Identity, to gain some practical insights into how these challenges can be tackled.
Questions will include:
1) How close are we to being able to access digital information about identity in a consumable and trusted way, across industries?
2) Which technologies should organisations be looking into, to support their identity and KYC processes?
3) Is the blockchain a complete solution for improved identity verification, or just part of a wider solution?
4) How can institutions ensure a user-friendly and compliant KYC and onboarding process?
5) What are the challenges and benefits of putting in place a ‘financial services passport’?