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
Also: Trading Technologies is developing an OMS for the sell side and Orbital Insight is embracing a platform-as-a-service model.Subscribe to Weekly Wrap emails
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