Robert Philip Dean

Apr 26, 2023 | thepaymentsassociation.org | Peter Harmston |Robert Philip Dean

Improved KYC/customer due diligence (CDD): Financial institutions have already made strides in automating and digitising their KYC/CDD processes, but they can be further enhanced with powerful machine learning algorithms.Techniques such as network analysis can enable financial institutions to better understand and develop deeper knowledge of the risk exposure of not only customers, but also their wider network, allowing for a better targeted approach to risk management.