From a regulatory point of view, being able to evidence that your company follows your established processes and procedures in line with your Compliance policies is a critical part of the work you do on KYC.
Any regulator requires you to produce this information within a defined time limit upon request. Having both the systems and trained staff to create these electronic records will enable you to meet both valuable business goals, as well as meet the regulatory requirements. Having a system to store this client data will:
Reduce the sales to revenue time for the cross-sell of products, services and geographies within your organisation
Reduce the sales to revenue time for the sales of products and services to interrelated companies
Minimise the KYC administrative requirements for your front-office staff
Provide global access to these records to meet regulators’ requests locally and around the world