Why perpetual KYC and quality data are good for compliance

Perpetual KYC (P-KYC) is by no means a new phenomenon. Its popularity has risen in recent years in line with the need for firms to improve efficiency and reduce risk across their due diligence and Know Your Customer (KYC) processes. Regulations have been encouraging firms to move down this path, including wording on scrutinising transactions, conducting ongoing due diligence and reviewing existing records throughout the course of the relationship with a customer or other third party. Yet perpetual KYC (P-KYC) so far has not managed to become the norm. While it has huge potential to mitigate risk, improve efficiency and unlock many benefits for business, these claims are not grounded in data – and, in turn, firms are hesitant to make the move and start realising this potential. We’ve analysed data from thousands of UK businesses from our own Dun & Bradstreet Data Cloud, to demonstrate the real rate of change in directors and Ultimate Beneficial Owners (UBOs), and show how P-KYC can save valuable time and resource. Join this webinar to discover the potential of P-KYC. You’ll learn: • The benefits and challenges of P-KYC • The change rates of Directors and UBOs in the UK and what you might miss in traditional reviews • How to increase the efficiency of screening and reduce false positive effort by 75% Your Host: Neil Isherwood - SME and Strategy Lead, Risk & Compliance Neil monitors the shifts in the regulatory landscape and looks to data and technology-led innovation to answer customer and supplier due diligence challenges. With over 20 years of experience in the information industry, Neil works with his customers to help them improve data flow into their organisations using data, integration and technology to aid better decision-making and risk mitigation. The majority of Neil’s experience has been in the financial services industry, though he works with customers across all industries at Dun & Bradstreet.