AML compliance for digital banks

AML and KYC solutions for digital banks

Harness the power of data and leading-edge technology to turn know your customer (KYC) and anti-money laundering (AML) compliance challenges into opportunities for growth and differentiation.

Effectively address your digital bank KYC and AML challenges.

Digital transformation continues to move across the banking world, offering lower costs, 24/7/365 connectivity and engaging client experiences.

Alongside hyper-digitalisation, financial criminals are becoming more adept at exploiting new, technology-enabled opportunities for illicit activity. Banks are at the front line of regulatory expectations to uncover and root out money laundering, fraud and other financial crimes, however, many struggle to fully meet KYC and AML obligations.

Digital banks primarily target millennials and generation Z’s, who look for quicker and smooth onboarding experiences. However, KYC and AML may add a significant amount of friction in that experience resulting in increased costs, drop-off rates and operational inefficiencies. All AML processes must be designed with the customer experience at their epicentre.

What are AML and KYC challenges for digital banks?

Digital banks must ensure that they conduct robust AML screening and KYC checks, to meet increasing regulatory obligations and help to mitigate money laundering, fraud and other financial crimes.

Key challenges include:

  • Higher onboarding costs and drop-off rates: Customers are looking for friction-less onboarding experience. The highest rate of abandonments of interested customers occur in the eIDV step, meaning higher cost of customer acquisition. 68% of customers abandoned an onboarding process in 2022.
  • False positives: The higher the false positives, the higher the costs to remediate them and the greater the friction.
  • Change of circumstance and ongoing alerts: KYC is not a one-off exercise. KYC is an ongoing process based on customer risk levels and customer interactions such as transactions and payments.
  • Fraud: Identity and payment fraud have been on the rise since 2020. It is essential to understand who you are onboarding as a customer, and also monitor their transactions.

Our solutions

Helping digital banks to remain compliant with ever shifting regulations

Our solutions combine the power of data and leading-edge technology to solve digital banks KYC and AML challenges in different ways. These solutions enable firms to digitalise their customer (AML) screening, Identity verification, bank account authentication and enhanced due diligence, which in turn enables better, faster, frictionless customer onboarding whilst remaining regulatory compliant.


An agile and holistic approach to solving KYC and AML challenges


Leading-edge technology with seamless integration

An end-to-end set of digital KYC API solutions that fully address identity, AML compliance, sanctions compliance, due diligence, and payments fraud risks in real-time.

Breadth and depth of risk intelligence data

Leverage the unsurpassed breadth and depth of data within our industry-leading LSEG World-Check database, underpinned by a trusted, global brand.


Enhanced customer experiences

Manual KYC processes can result in protracted onboarding, customer frustration and abandonment. Digital KYC removes these challenges, resulting in quicker, more client-friendly processes and better compliance.

Connect with our specialists

Our specialists will tailor a KYC and AML solution to help solve your specific needs.

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