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FORTENT'S "KNOW YOUR CUSTOMER" SOFTWARE SLASHES KYC COSTS.

Publication: GUI Program News
Publication Date: 01-AUG-08 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
The latest customer due diligence technology just released by Fortent helps banks, brokerages, credit unions, and insurance companies take on the #1 concern faced by financial firms today: cutting costs.

Stricter customer due diligence laws in the U.S. and around the world have forced financial institutions to increase compliance efforts in this area - leading to escalating compliance expenses at a time when the sector can least afford it. According to recent industry surveys, 60% of institutions' direct compliance spending is in staff compensation, and with financial institutions struggling against huge losses and liquidity issues, firms are seeking ways to put the brakes on these rising operating...

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