REG knowledge KYB & KYC

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These combined functionalities not only transform operational governance and oversight efficiencies, but have a significant impact on businesses’ abilities to accelerate trade, expand trade partner portfolios and ultimately provide faster routes to revenue.

Zoë Parsons Head of Marketing

How Compliance Software Can Alleviate Regulatory Burden

In today’s rapidly evolving business landscape, regulatory compliance has become a significant challenge for financial institutions and other regulated industries. The ever-changing and complex regulatory requirements place a heavy burden on organisations, leading to increased costs, resource allocation, and operational inefficiencies. However, a silver lining appears through the rise of compliance software, which serves as an innovative solution to manage the abundance of regulatory requirements.

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Insights, views and talking points from REG

Building a Faster, Smarter, Safer Market: Research Report

This research report delves into the challenges posed by the ever-evolving regulatory landscape, which have resulted in decreased process efficiency and compliance impacts. Despite the proliferation of technology, the market remains hesitant to fully embrace regulatory technology (RegTech) solutions. However, businesses that have adopted RegTech have experienced significant benefits in streamlining their compliance operations. How can the market overcome the barriers and leverage technology to thrive in the face of regulatory pressures?

KYC and KYB Checklist for Insurance Firms

In the insurance market, firms are legally compelled to conduct KYB and KYC checks to mitigate risks of financial fraud and money laundering and ensure compliance with national and international regulations. Without proper systems in place, carrying out these necessary checks can be difficult, ultimately compromising business opportunities.

Behind Every Piece of Technology, There’s a Human

Technology often feels like an unstoppable force, transforming industries, automating processes, and reshaping how we live and work. While these advancements bring incredible opportunities, they also come with some aspects of apprehension. From concerns about job displacement to fears of a faceless, algorithm-driven future, many people view technology with a mix of both excitement and anxiety.

How AI Revolutionises KYC and KYB Processes in Financial Services

In the financial services arena, Anti-Money Laundering (AML) professionals are constantly seeking innovative ways to enhance the efficiency and accuracy of Know Your Customer (KYC) and Know Your Business (KYB) processes. One of the most transformative technologies in this arena is AI. By integrating AI into KYC and KYB procedures, financial institutions can significantly streamline their operations, particularly in areas such as analysing Politically Exposed Persons (PEPs) and sanctions screening data...

Enhancing Transparency: The Significance of UBOs, Directors & Officers Declarations

In an era where regulated businesses are increasingly seeking transparency from their trading partners to ensure compliance with regulatory requirements and AML obligations, challenges in identifying Ultimate Beneficial Owners, Directors and Officers are leading to a lack of oversight and governance. Now, with the advent of RegTech, these processes have been streamlined and enhanced, underscoring the critical importance of transparency in today's corporate world...

The Importance of Human Touch – Why B2B Businesses Must Prioritise Relationship Building in the Digital Age

In an age where we are leaning more and more towards technology and AI, have we lost the essential human touch needed for business relationships and what can we do to maintain them?

UBO Meaning: What Is an Ultimate Beneficial Owner?

In the UK, one of the biggest challenges facing insurance firms is to obtain UBO information as part of AML due diligence. If you do not get your UBO screening and reporting right, it can result in significant increases in risks of financial crime and ultimately, penalties and fines...