Leveraging KYC and AML Technology in Composable Banking

Over the last 18 months, banks have been trying to tame a consistently inconsistent market. As regulations across the industry have proliferated, so have examples of the need for such regulations.

With more and more cases of banks collapsing and fraud on the rise, it’s increasingly important for businesses to know their customer and combat money laundering and financing terrorism. To solve this problem, it is paramount that businesses embrace a forward-thinking approach when it comes to implementing Know Your Customer (KYC) and anti-money laundering (AML) technology.

Neobanks have driven progress in digital onboarding, helping to make the process quicker and more efficient. Collaboration between the public and private sectors is key in the fight against financial crime.

To build a competitive advantage, banks need to adopt a risk-driven approach to AML that empowers customers with relevant questions.

EPAM and Fourthline advocate for a composable approach to onboarding that combines technology, trust, and security to simultaneously help banks comply with regulations and enhance customer experiences. Learn how to get it done in this eBook we've created together.