Account-opening solutions offer financial firms and other organizations a return on investment (ROI) of $3.50 for every dollar spent, according to research conducted by market-advisory firm Liminal. Manual verification of customers can be expensive and time-consuming, and account-opening solutions seek to make the process cheaper and more efficient. Despite the increased prevalence of KYC and KYB regulations, account-opening fraud appears to be rising. "While many providers are building out key capabilities, no one vendor has won this market yet," notes the Executive Summary. For more information about account-opening solutions and which 32 vendors made the cut, please download Liminal's Executive Summary here.

Source: Fox News November 03, 2023 20:30 UTC