Fiserv - Don’t just know your customer, understand them. Financial crime risk management for today’s customer-orientated world
Simply knowing your customers and correspondents is not enough in today’s competitive, real-time business environment. Understanding them over the full relationship lifecycle is what will set you apart by allowing you to mitigate your risks and also protect your customers from risk. Once initial due diligence is complete the story does not end - ongoing due diligence, informed by initial KYC, is essential as information can change rapidly that could potentially impact the risk profile of your customer. An enterprise view of customer risk, analytics, relationship link analysis, data mining methodologies, transaction scoring and strategic efficiencies all play a vital role in monitoring customers and providing security across all channels and payment networks, so you can better understand behaviours and profiles in a way that transcends hard coded business rules. Attend this session to learn how your business can effectively manage risk, and maximise the profitability of your customer and correspondent relationships, through deeper understanding that underpins your AML, KYC and fraud risk management programs.