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06.26.2017 - Typical UK bank will waste £10m annually on inefficient KYC checks as AMLD4 regulation comes into force



View RealWire related news. Report from Consult Hyperion estimates manual KYC checks cost the average bank £47m a year and are set to soar with the introduction of AMLD4 and AMLD5 Government-backed eID schemes, offered as a solution to AMLD5, won’t be available to the banking sector for years Report recommends mobile identity verification technology to bridge the gap between manual checks and electronic identitiesCopenhagen, Denmark, 26th June 2017 - With the deadline today for full implementation of the... Source: RealWire

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