How to accelerate customer onboarding in the Middle East & Africa
Five common KYB/KYC challenges and potential solutions
Customer onboarding and business acceptance teams can find themselves stuck between a rock and a hard place: as compliance professionals their responsibility is to adhere to what internal policies and external regulations dictate, whilst delivering an efficient and timely service to internal stakeholders. Too often the net result is that the customer due diligence (CDD) process is long and drawn out – ultimately delaying the organisation’s ability to earn fees, or in the worst case losing business altogether.
Based on conversations with Diligencia’s own clients in this area, we have selected five of the most common challenges that CDD teams face when onboarding customers in the MEA region, along with some potential ways to accelerate and streamline the process.
Download the guide for insight into:
- Validating company details and UBOs
- Identifying companies and their activities
- Source of wealth
- Conflicts of interest
- Cultural reticence / awkward conversations