The research highlights common inefficiencies in customer screening, such as onboarding and payment delays driven by manual processes and false positives. While AI and workflow automation are emerging as essential tools for improving efficiency and accuracy.
Key findings include:
- 80% of financial institutions report delays at least occasionally, and nearly one third often causing persistent onboarding and payment delays.
- Operational inefficiencies are hindering effective customer checks with 77% citing manual review workload as a major challenge and 75% reporting high false positives.
- 98% of financial institutions consider real time data important to their compliance workflows.
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