KYC rules force banks into costly off-boarding exercise

Shedding unprofitable clients drains operational and IT resources

scissors cutting a dollar bill into strips
Cutting your clients: banks are removing up to 20% of their client base

Banks are facing the troublesome task of sorting through thousands of clients' data as they bid to mitigate rising know-your-customer (KYC) costs by axing large numbers of unprofitable relationships. In the long term, they aim to cut compliance costs, by shedding accounts which do not produce enough revenue to justify the growing bill for due diligence. But the short-term outlook is one of growing strain on personnel and IT resources – and a drop in revenues as the customers leave.

Client off

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Investment banks: the future of risk control

This survey report explores the current state of risk controls in investment banks, the challenges of effective engagement across the three lines of defence, and the opportunity to develop a more dynamic approach to first-line risk control

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