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Why traditional KYC no longer works
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fintech.global
fintech.globalWhy traditional KYC no longer works
For decades, KYC has been a cornerstone of financial crime compliance. Verify a customer’s identity, assess their risk and review them periodically. It is a model built around a simple assumption: that risk changes slowly. Today’s financial system tells a different story. Customers can onboard in minutes, move money instantly and change their risk profile long before the next scheduled review. Yet many institutions still rely on point-in-time as…
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