Ensuring Efficiency and Reliability of KYC Processes Through Collaboration

How to ensure the efficiency and reliability of a KYC process on an ongoing basis?

One good strategy is to leverage the potential synergies within the kaleidoscope of offerings in the ecosystem, where each provider is maximising the capabilities of their functional units.

Today we would like to feature a story of one of these fantastic partnerships shaping up. Invidem AB was founded in 2019 by six leading Nordic banks joining forces in preventing various forms of financial crime. Due to its positioning as a shared KYC platform of multiple financial institutions, Invidem has been featured as one of the examples of the KYC operational models in the recent report by IRTA – International RegTech Association and Protiviti. Here is the link to the report – “An Urgent Call for KYC Optimization”.

Invidem has recently taken steps to leverage the RegTech ecosystem to improve its KYC data management processes. Encompass will provide Invidem with highly automated KYC data gathering, while iMeta Technologies Ltd. will support the organisation with the core Client Lifecycle Management system for management of the KYC information. Marit Bø Bornstein ♦️, CEO at Invidem believes that the partnership would enable her organisation to make even more sophisticated risk assessments to support it on its mission of building trust in financial institutions.

Read more about the emerging partnership here.

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