KYC utilities raise significant concerns for banks about privacy and data sharing.
Cross-border operations further complicate the legal requirements for data sharing, as banks are challenged to address the requirements of multiple jurisdictions.
Furthermore, the experience of some KYC-utility projects has revealed that obtaining customer consent can be a major impediment to a utility’s adoption.
The second day of #RISK London continued to impress, solidifying its position as the UK’s premier risk focused expo & conference.
The first day of #RISK London, the UK’s premier risk focused conference, brought together thousands of professionals from the fields of governance, risk, compliance, privacy, security, RegTech, and AI for insightful discussions, networking opportunities, and expert presentations.
The financial services industry is the lifeblood of a thriving economy. It facilitates vital transactions, fuels innovation, and underpins growth. However, this complex landscape is also inherently risky. Fraud, cyber threats, regulatory changes, and market volatility are just some of the challenges institutions face.
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