The Art of FinCrime Risk Management: Customer Clarity is Key
By operating in silos, blind spots are inevitable. Without a holistic view of your customers, you could be missing existing financial crime risks. For better risk management, a deep understanding of your customers is required. Only by fusing together all activities, transactional and non-transactional, from onboarding, screening and KYC to fraud and AML monitoring with advanced analytics, will you gain clarity through context for better financial crime risk management.
At NICE Actimize, we call this approach Customer Lifecycle Risk Management (CLRM). Understand your customers and their associated risks to strike the right balance between risk management and business growth objectives