Author: Hugo Chamberlain

In the evolving landscape of compliance, financial institutions, regulated businesses and large corporations face mounting pressure to streamline Know Your Customer (KYC) processes, meet anti-money laundering (AML) requirements, and manage third-party risk efficiently.

In the modern complex regulatory environment, Know Your Customer (KYC) screening is a cornerstone of compliance for financial institutions, corporations, and regulated industries.

As we wrap up 2024, we take a moment to examine the key trends and challenges that defined the KYC due diligence landscape this year. It’s been a remarkable year for smartKYC, marked by smartKYC’s innovative solutions and recognition through multiple industry awards.

In today’s interconnected world, adverse media screening is critical for businesses, especially those involved in financial services, compliance, and risk management.

As the CCO of smartKYC, I’ve been at the forefront of innovation in due diligence and Know Your Customer (KYC) screening processes for many years.

In our interconnected global economy, where financial crime is increasingly sophisticated, businesses must ensure that they comply with rigorous Know Your Customer (KYC) regulations.

Adverse media screening is a critical part of any effective anti-money laundering (AML) program. This process involves screening individuals and entities against negative news articles and other sources of potentially damaging information to identify potential risks and compliance issues. In this article, smartKYC’s COO, Hugo Chamberlain, gives a clear definition of adverse media screening and how it is now essential for effective modern risk management.  

As I consider my role at smartKYC, I’m continually impressed by how artificial intelligence, specifically natural language processing, has transformed adverse media screening. My expertise centres on using this technology to improve due diligence and anti-money laundering measures, aligning with smartKYC’s innovative culture and dedication to excellence. 

In recent years, adverse media screening has become a critical component of Know Your Customer (KYC) screening processes. If financial institutions want to stay ahead of potential risks and maintain compliance, they must adopt strategic approaches.

Know Your Customer (KYC) processes have traditionally been the backbone of financial institutions’ efforts to prevent money laundering, terrorist financing, and other financial crimes. Historically, KYC screening focused primarily on identifying red flags such as suspicious transactions and connections to criminal activities.  

smartKYC, the world’s most advanced enterprise solution for due diligence automation, is pleased to have ranked as a ‘Category Leader’ in Chartis’ RiskTech Quadrant®, as part of their Watchlist and Adverse Media Solutions 2024 Report.

smartKYC, the world’s most advanced enterprise solution for KYC due diligence automation, today announced it has achieved ISO 27001 certification for information security.