AI and the Future of KYC: Transforming the Role of KYC Analysts

By Binh Dang
On: 28 November, 2024,
Categories: Adverse Media, AI, Fintech, KYC

The role of Know Your Customer (KYC) analysts has undergone a profound transformation over the past decade, shaped largely by advances in technology, particularly artificial intelligence (AI) and more recently, Generative AI. Historically, the job of a KYC analyst revolved around manually processing large amounts of data, reviewing customer profiles, performing ID verifications, cross-referencing watchlists, conducting adverse media screening, and ensuring compliance with ever-changing regulatory standards.

Read More

Mike Byrne Appointed as smartKYC’s New Business Development Director

Fintech | KYC | New Hire | Regtech

7 March, 2023

smartKYC announces Mike Byrne as the company’s new Business Development Director.

Sign up to our newsletter

Sign Up – to stay up to date and gain access to regular bulletins, news and our insight on current events.

GDPR and KYC – Living Together in Perfect Harmony?

Adverse Media | Continuous Monitoring | Explainable AI | Fintech | GDPR | KYC | Regtech

23 February, 2023

The General Data Protection Regulation (GDPR) and Know Your Customer (KYC) screening are two important regulatory frameworks in the world of data protection and financial services. GDPR and KYC screening can conflict in several ways, particularly in relation to the collection and storage of personal data. However, it is mandatory for organizations to comply with both by carefully balancing the requirements of each and taking appropriate measures to protect personal data.

2022: A Year in Review

Awards | Conference | Fintech | KYC | Regtech

31 December, 2022

In 2022 we planned ahead and took an active approach to new regulations, sharing our opinions on several industry trends and creating new solutions for industry trends. Our 2022 AML research gave insight to key industry shifts.

Negative News Screening: Processing Foreign Languages

Adverse Media | AI | Continuous Monitoring | Explainable AI | Fintech | KYC

19 December, 2022

As we addressed in our latest adverse media post, there is an array of categories—and subcategories— of negative news screening that need to be properly screened for accurate and relevant results. But how do people look for and analyse adverse media in foreign languages? And why is this still so difficult?

smartKYC Comment on the Wolfsberg Principles for Using Artificial Intelligence and Machine Learning in Financial Crime Compliance

AI | Explainable AI | Fintech | KYC

9 December, 2022

On 1st December 2022, the Wolfsberg Group published its Principles for Using Artificial Intelligence and Machine Learning in Financial Crime Compliance. It is a welcome piece of commentary and advice and is inline with our thinking at smartKYC.

smartKYC Wins ‘Best Proposition for AI, Machine Learning’ at the Data Management Insight Europe Awards 2022

AI | Awards | Explainable AI | Fintech

1 December, 2022

We have won the award for ‘Best Proposition for AI, Machine Learning’ at the Data Management Insight Europe Awards!

smartKYC Wins ‘Best Financial Crime Solution’ at the RegTech Insight APAC Awards, 2022

Adverse Media | AI | Awards | ESG | Explainable AI | Fintech

29 November, 2022

We have won the award for ‘Best Financial Crime Solution’ at the RegTech Insight APAC Awards!

What is Adverse Media? No, we don’t mean another definition…

Adverse Media | ESG | Explainable AI | Fintech

25 November, 2022

It is well known that ‘adverse media’ screening is the process of searching for negative news and other data sources about an individual or company for due diligence purposes.

smartKYC Wins ‘Best Financial Crime Solution’ at the RegTech Insight USA Awards 2022

Adverse Media | Awards | Explainable AI | Fintech

17 November, 2022

We have won the award for ‘Best Financial Crime Solution’ at the RegTech Insight USA Awards!

smartKYC launches smartLISTS

AI | Fintech | KYC

4 August, 2022

We are pleased to announce the launch of our smartLISTS module. smartLISTS are a better way for financial crime teams to manage and screen against their internal watchlist data.

smartKYC partners with kompany to provide live access to real-time global register network

Fintech | KYC | Partnership | Regtech

14 July, 2021

LONDON, UNITED KINGDOM: 14 July 2021 – smartKYC, the world’s most advanced enterprise solution for KYC due diligence automation, has announced a strategic, data partnership with kompany, the global RegTech platform for business verification and Business KYC (KYB) for AML compliance.