SME’s make up 99% of the UK and Ireland economy yet they remain underserved by traditional banks. Long-winded, complicated onboarding procedures, products that are not fit-for-purpose and a fundamental lack of information raise serious challenges for financial and insurance firms to support the sector.
Combine these challenges with the regulatory requirements to stay on top of critical customer information and you have a potential ticking time bomb that can explode into hefty fines, spiralling remediation costs and financial fraud.
Which raises the questions: how are you managing changes to your SME customer base? And do you understand the potential risks of failing to stay on top of these changes?
Watch our webinar on demand, in partnership with RT Associates, where we discuss these challenges in detail and showcase how existing KYB processes are no longer fit for purpose.
During the live webinar, we will cover: