With COVID-19 acting as a catalyst, financial institutions are under increased pressure to expedite the digital transformation from regulators, growing competition from fintech or internet companies and changing customer preferences, besides other factors.
To address the challenges and highlight the latest trends and best practices related to the future of customer onboarding in financial services, leading experts from the GCC industry will come together in a special webinar on 22 September 2021.
Organised by The Wealth Today, the specialised panel will be led by Antoun Massaad, the Co-Founder and CEO of Cedar Rose. Joining him in the discussion will be Christos Christou, Group Chief Officer, Lulu Financial Holdings Limited; Ken Coghill, Director, Innovation & Technology Risk, Supervision, Dubai Financial Services Authority; and Lawrence Paramasivam, Senior Executive Director – Policy & Legal, Financial Services Regulatory Authority.
Commenting on the process, Antoun stated, “To respond to the challenge of putting in place a world-class customer service, being competitive, and staying compliant with KYC and AML regulations, organisations must first and foremost focus and improve on a critical aspect of the business that is ‘onboarding’.”
He added, “Technology penetration across the board is opening new channels for organizations to connect with their customers and onboarding becomes a critical differentiator for financial institutions to give their customers, an experience which is frictionless and impactful. At Cedar Rose our continued investment in new technologies and automation capabilities coupled with our strong experience and expertise allow our customers to work smarter and more efficiently.”
Cedar Rose is the holder of the largest unified and most comprehensive financial risk data and detection technology in the Middle East. It offers greater agility, effectiveness and efficiency with elevated risk-relevant intelligence on individuals and businesses for faster and more informed decision making.
According to Antoun, “It is essential to verify the identity and understand the risk of a business customer either before or during their on-boarding. The process needs to be easy and intuitive to comply with internal, board and regulatory reporting demands. What is required is a more holistic understanding of parties involved for financial crime detection, investigation and due diligence.”
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