Valentina Santos

For non-residents, we've found that getting official bank statements directly from the bank, sometimes with a SWIFT confirmation, adds a lot more weight than just a scanned PDF. It's slower, but the assurance is much higher. Digital utility bills are tougher though.

I think the 'enhanced user experience' is often overstated for high-risk clients. They're more concerned with absolute security than shaving a few seconds off login.

Honestly, I'm not sure there are any 'best practices' yet, just varying degrees of less-bad practices. The biggest challenge seems to be the lack of harmonization between national tax authorities. It's a compliance minefield.

Definitely agree on TCFD being table stakes. For internal risk management, a lot of firms are starting to lean into SASB standards for specific industry-material issues. It's more granular than some of the broader frameworks, which helps with identifying actual financial risks and opportunities related to ESG. Still, data collection remains a beast.

Have you explored using third-party verification services for some of the heavy lifting? It can sometimes streamline the process and add an extra layer of objectivity, though it's an added cost.

We're piloting a solution from Trulioo, and so far it's been promising for the KYC/AML aspect. The UBO mapping still requires a fair bit of manual oversight, though.