The latest global survey report on KYC suggests that financial institutions have continued to invest significant resources into KYC, rising from an average of $142 million to $150 million last year for large companies. However, the compliance concerns faced by them and their customers appear to be increasing in complexity and volume, with three quarters of banks saying changes in legislation and regulation require them to constantly refresh their customer records just to stay compliant. Companies are increasingly turning to integrated digital solutions to manage these risks.
That’s why we’ve teamed up with Mastercard to offer a new service to Tungsten Network customers: Mastercard Track.
Emma Mills and Theresa Lacey discuss.