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09.03.2019 - KYC compliance costing banks €50 million a year as financial sanctions soar



View RealWire related news. Banks could lose out on €150m in the next five years to customer abandonment Cost of non-compliance fines grows to €3.5m a year, adding new financial strain By digitising identity verification, a typical bank could save €10m a year London, UK., 3 September 2019 - A typical European bank, serving 10 million customers, could save up to €10 million annually and avoid growing fines by the regulator by implementing technology to improve the ‘Know Your... Source: RealWire

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