According to expert estimates, money-laundering activities account for two to five percent of the global GDP. The challenges for Financial Institutions (FIs) today have become multifold with increasing sophistication of money launderers. Intense scrutiny by regulatory authorities on the efficacy of Anti-money Laundering (AML) programs, and the risks of stiff penalties and loss of reputation place greater pressure on financial services organizations.
Banks and FIs need AML and Know Your Customer (KYC) programs that adopt a risk-based strategy and keep pace with constantly changing regulations across geographies. This includes an ongoing screening of customers and transactions through robust processes and reporting procedures. In short, they need a comprehensive and integrated AML-KYC lifecycle management that provides an accurate and total view of risks and vulnerabilities across the customer lifecycle.
WNS’ AML-KYC services bring deep domain expertise and industry-led capabilities to provide an integrated AML lifecycle management. Our comprehensive Business Process Management (BPM) offerings, supported by automation and analytics solutions, deliver insights that ensure smart and cost-effective AML-KYC operations and positive customer experiences across the U.S., U.K., European Union and other geographies.