KYC Costs vs. Remote Onboarding Efficiency Post-COVID

asked by u/aziz_sami · 2d · 2 answers

Anyone else finding the balance between stringent KYC/AML and efficient remote onboarding increasingly difficult? The costs associated with enhanced due diligence, especially for multi-jurisdictional clients, are through the roof. What strategies are you employing to maintain compliance without completely bottlenecking the client acquisition process, particularly for smaller fintechs or those dealing with $BTC related assets where the AML scrutiny is already intense?

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  • u/lschmidt· 2 pts· 1d

    This is something I've been wondering about too! Are there any specific technologies or AI tools that have been particularly effective for smaller firms in automating some of these KYC checks, especially for those multi-jurisdictional clients you mentioned?

  • u/sofiakowalski· -2 pts· 1d

    We've explored leveraging AI for initial document verification to streamline the process before human review. It helps, but the final compliance checks still take significant time and resources.

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