Today’s financial services organizations are struggling to comply with regulations including Customer Due Diligence (CDD), Know Your Customer (KYC) and Bank Secrecy Act (BSA)/Anti-Money Laundering (AML). A survey of more than 100 senior banking officials across Europe and the U.S. found that one in five banks are significantly increasing spending around compliance requirements; a key challenge is that much of the data needed to ensure compliance resides outside your bank, making it difficult to aggregate and integrate into your internal processes.
Ensure the consistent application of banking business rules and regulatory compliance standards through an integrated process automation solution. Automatically acquire, enhance and deliver the precise data required from any internal or external source. You will save your bank time and money by avoiding repetitive tracking and reporting activities, and reduce your risk of noncompliance fines.
With Kofax Kapow, the entire process takes just seconds and is fully automated, which saves us huge amounts of time and effort. Teams can deliver all the loan documentation required for quality control or audits faster than ever before, with full confidence that nothing has been overlooked.
When you automate the acquisition, enhancement and delivery of required data from internal and external sources, you save your bank time and money by avoiding tedious and repetitive tracking and reporting activities.