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Global KYC Trends in 2024

Global KYC & Onboarding Trends in 2024

Fenergo’s latest research on the Know Your Customer (KYC) and onboarding activity of major banks, asset managers, and energy and commodities firms operating globally in 2024. The research surveyed 1000+ C-suite executives to uncover:

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  • How slow onboarding drives away clients
  • The average cost for a medium-risk KYC review
  • Which factors are inhibiting effective KYC, and more insights
Fenergo

Understand Industry Trends

We researched and analyzed the KYC and Onboarding Trends in your industry for 2024. Download the reports now.

Banking

For the third consecutive year we examine banks’ investment priorities, shifts in cost per KYC review and how regional changes are affecting KYC.

Get the Report

Asset Management

Regulatory pressures, compliance costs, and operational inefficiencies are changing how asset managers approach growth and profitability.

Get the Report

Energy & Commodites

For the first time, see the benchmark for technology strategies, onboarding processes, and compliance spending in KYC and Onboarding for your sector.

Get the Report

KYC Trends at a Glance

Fenergo surveyed 1000+ C-suite executives at banks, asset management, and energy and commodities firms to understand the issues affecting KYC and Onboarding in 2024. Explore our infographic to see a snapshot of the trends.

Banking
Asset Management
Energy & Commodities
We asked organizations what the most important areas for risk they invested in regarding technology across 2024. Click through our infographic to see more.
GLOBAL
UK
US
SG
Cyber risk is no longer leading investment. Banks are cautious of multiple threat vectors.
We asked organizations what the most important areas for risk they invested in regarding technology across 2024. Click through our infographic to see more.
GLOBAL
US
UK
SG
Risk is being prioritized evenly for technology investment across all regions.
We asked organizations what the most important areas for risk they invested in regarding technology across 2024. Click through our infographic to see more.
US
Financial crime and AML risk being so close to the top three signals a growing focus on this area of risk

Effective KYC in a Complex Landscape

KYC spotlights the tension between meeting complex regulatory obligations and creating a positive digital onboarding experience.  

Our reports reveal the data behind the KYC and Onboarding experience.  

See the Reports
1

Insights: KYC in 2024

KYC and Onboarding are time-consuming, resource-intensive, and can delay time to revenue. We benchmark the trends and analyze the challenges affecting them.

2

Costs: The State of KYC and Onboarding

Costs associated with KYC and Onboarding exist across many metrics. We highlight the price per KYC review, time taken to conduct them, and what's influencing them.

3

Technology: Impact of Client Experience

Client abandonment is a key issue for KYC and Onboarding Trends, we examine the issues disrupting smooth onboarding journeys across industries.

Accelerate KYC with Fenergo

Marc Murphy, CEO of Fenergo, explains how Fenergo streamlines KYC and compliance processes and provides a centralized dashboard for event processing and decision making for client lifecycle management (CLM). See how Fenergo supports:

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  • Frictionless management of client interactions
  • Streamlined onboarding and KYC review processes
  • Ongoing reviews, transactions, screening hits and due diligence

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Watch the video now.

Other Resources

Fenergo

Share of Banks Losing Clients to Poor KYC Practices Surges to Record High

The news comes amid a continued push by regulators worldwide to address intensifying money laundering.

Read the Press Release
Fenergo

KYC Trends in 2023 Tackling KYC Amid Heightened Global Challenges

Discover the data for global investment banks around KYC, onboarding, and risk from 2023.

Download the Report
Fenergo

KYC and Onboarding Trends Benchmarked for the Energy and Commodities Sector

78% of firms agree that handling counterparty data impacts sanctions compliance.

Read the Press Release