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Data reuse can help private banks open accounts in “as fast as a single day”

Data used for know-your-client (KYC) procedures across banks can be reused to both lower compliance costs and increase business efficiency, says the CEO of kyc.com, a joint venture between two US-listed business process operations experts. “We created a standard for the purpose of mutualisation or reuse of KYC data for the industry,” Jon May tells Asian Private Banker, sharing what…

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