IDC MarketScape: Worldwide Know-Your-Customer Solutions in Financial Services 2018 Vendor Assessment

FICO TONBELLER is positioned as a Leader in this IDC MarketScape for worldwide KYC solutions in financial services.

This report covers vendors that provide Know-Your-Customer (KYC) software to the worldwide financial services market. This evaluation is based on a standardized set of parameters from which IDC can produce a comparative analysis of KYC software vendors.

KYC vendors like FICO, provided an in-depth assessment of our current capabilities and strategies, and our reference clients were interviewed to assess FICO’s ability to meet the financial institution's strategic needs and current requirements.

For the purposes of this study, IDC defines KYC as inclusive of complete customer onboarding including customer identification, customer due diligence (CDD) , enhanced customer due diligence, watchlist/sanction screening, and ongoing customer risk-based assessments.

Key findings from this research include:

• Artificial intelligence (AI) and machine learning (ML) are becoming increasingly important to KYC efficacy and customer experience, and savvy KYC providers/vendors have already incorporated AI/ML into their solutions and road map.
• Advanced analytics in KYC that incorporate AI/ML significantly improve the KYC screening process, resulting in potentially better outcome prediction accuracy.

Download the IDC MarketScape: Know-Your-Customer (KYC) Solutions in Financial Services Vendor AssessmentReport to read more.