We all know that KYC is a big challenge to banks, both on the retail and commercial sides.
There are interesting ongoing developments here in the Nordics. I am sharing an interesting article from Finextra that gives a good overview of where we are.
Quick questions: How KYC will work in an Open Banking ecosystem? Will banks invoice fintechs or bigtechs for KYC as a service for instance? Where will this shared KYC utility be in the model? Let’s see what will happen.
Link: KYC Utilities: The Promised Silver Bullet for Nordic Banks?