In this whitepaper, Davies’ Know Your Customer (KYC) and Client Lifecycle Management (CLM) experts Bobby Bing and Silvia Amoros explore how a managed services approach to KYC and CLM can reduce risk, improve compliance, and drive profitability for financial institutions.
The paper begins by outlining the growing complexity of KYC and CLM processes, driven by evolving regulatory demands, rising operational costs, and increasing client expectations. Traditional in-house models often struggle to keep pace. This results in inefficiencies, inconsistent compliance, and reputational risk.
A managed services model offers a compelling alternative. By outsourcing KYC and CLM functions to a specialist provider, firms can access scalable expertise, advanced technology, and streamlined processes. This approach not only reduces the burden on internal teams but also enhances risk management and operational resilience.
Bobby and Silvia highlight key considerations for firms exploring this model. These include understanding the regulatory landscape, defining clear service level agreements, and ensuring robust governance and oversight. The paper also stresses the importance of selecting a partner with deep domain expertise, proven delivery capability, and a strong track record in financial services.
The whitepaper provides practical guidance on how to transition to a managed services model, including steps for assessing current-state maturity, identifying quick wins, and building a business case. It also addresses common concerns such as data security, regulatory accountability, and change management.
Download the full whitepaper using the form below. Contact us to explore how Davies can support your transformation.
