TECH BUYER Dec 2019 - IDC MarketScape - Doc # US44398519
IDC MarketScape: Worldwide Business Process Outsourcing for AML and KYC 2019 Vendor Assessment
This IDC Financial Insights study presents a 2019 vendor assessment of worldwide business process outsourcing (BPO) for anti–money laundering (AML) transaction monitoring and know-your-customer (KYC) service and technology providers in financial services. With regulatory demands and cost management pressures increasing, financial institutions are recognizing that outsourcing some, or all, of their AML and KYC operations is potentially a quicker way to reduce expense and improve quality rather than trying to achieve the same results through internal efforts.
According to Steven D'Alfonso, research director, IDC Financial Insights, "Outsourcing financial crime compliance operations to a trusted provider with advanced technologies and processes in place will increasingly become a favored option for banks of all sizes."
Analytic applications, Business process outsourcing, Cognitive/artificial intelligence, Customer relationship management applications, Financial resource management, Governance, risk and compliance infrastructure, Pricing and valuation, Technology buyer
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