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KYC Automation: Build? Buy? Wait?

kyc due diligence

Automating KYC due diligence typically requires help from a third-party provider or an in-house team to develop the software for you. As a merchant acquirer, you might not have the time or resources to build the solution yourself, given that most of your time is spent on gaining new clients. So, the question is, when does manual KYC due diligence start to affect your bottom line negatively?

The answer is in the numbers.

As competition increases, regulations continue to shift, and fraudsters become more advanced, your KYC due diligence process must be fast and accurate. Highly aggressive payment processors grant merchant accounts within minutes, putting extreme pressure on merchant acquirers to speed up.

KYC due diligence is the first line of defense against bad actors and should not be overlooked. Automating KYC may eliminate 95 percent of the “grunt work” of manually gathering KYC data by replacing costly manual processes with consistent, automated KYC technologies.

As you scale your business and acquire more merchants, the KYC checks can become a daunting task. Whether you are looking to hire another full-time employee to manually review monthly applications or looking to implement a new KYC automation solution, you will need to do some research and build a business case. 

Understanding your return on investment (ROI) will answer whether or not you should build, buy, or wait to automate.

In our upcoming webinar—Automated KYC: ROI You Can’t Afford to Ignore—we will dive into the analytics behind KYC and give you clear-cut guidance on if and when you should automate your KYC processes. This session will help you:

  • Understand metrics associated with KYC due diligence
  • Calculate costs of manual vs. automation KYC processes
  • Make the business case for automation to your CFO

Register here:


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