Our result demonstrate a clear shift in approaches and behaviours as firms continue on their regulatory compliance journey.
More firms than ever are exploring KYC utilities but overcoming change fatigue will be critical to success. Over 50% of firms would consider these more aggressively if the regulator provided clear approval of a particular approach.
With 60% of firms experiencing a backlog in remediation activities, firms are weighed down by legacy issues that hinder a more strategic approach to compliance. Balancing these competing short-and long-term needs will be key to gaining competitive advantage.
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