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Customer onboarding is too costly and slow, concludes report – IBS Intelligence

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"Business onboarding, it concluded, is predominantly a manual, paper-based process, which is costly for the bank and slow for the customer, with new regulations, such as AMLD5, only adding complexity. The average time to onboard a business banking customer has increased to 32 days, with the total cost of KYC processes forecasted to increase by nearly 20%."

From "Customer onboarding is too costly and slow, concludes report – IBS Intelligence".

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