The surveys of two pools of roughly 1,100 financial institutions and their customers not only show increased KYC-related costs, but investments in time and manpower are on the rise, as well.
In 2016, firms deployed an average of 68 employees to handle KYC procedures, a number that rocketed to an average of 307 in 2017. Still, financial institutions report that resources are scarce, with more than a third stating lack of resources are their biggest KYC-related challenge.
Also in 2016, firms p
Bill Murphy, CTO of Blackstone, once again joins the podcast to discuss the private equity firm's new offices, designed to house its innovations team.Subscribe to Weekly Wrap emails