What is KYC?
KYC stands for Know Your Customer, or occasionally Know Your Client. KYC, or KYC check, is the obligatory procedure of identifying and validating a client’s identity upon creating an account and at regular intervals thereafter.
What is a Compliance Management System?
A Compliance Management System is a structured framework guiding a business to internal policies, regulatory and legal standards. The process consists of setup processes, technologies as well as guidelines for businesses in order to operate within the required legal parameters and best practices that mitigate risks. Special importance has been attached to compliance systems in finance, insurance sectors, where regulations are complex and changes are frequent in nature.
The Future of Compliance
Europe’s fintech and digital services sectors are evolving faster than ever — but so are the regulations designed to protect consumers and prevent financial crime.
