Money20/20 USA: Personetics – Helping Banks With KYC Tools

President of Americas at Personetics, Jody Bhagat, Unveils How the Company Is Empowering Its Clients With KYC Tools

Money20/20 USA 2023 saw the leading lights of financial services come together in Las Vegas to connect and offer key insights into the future of fintech.

We spoke to Jody Bhagat, President of Americas at Personetics, who told us how his company is empowering its banking clients with market-leading Know Your Customer (KYC) tools.

Supporting banks with the right KYC tools

“There’s so much potential and power in the KYC tools on the market, with recent advancements in data and analytics,” says Personetics’ Bhagat. 

“Today, KYC is not merely a security measure but a means for banks to understand their customer’s transaction history and deliver real value to them, offering them the right tools and services to improve their financial well-being.

“If you’re a bank, it’s so important to get KYC right and show your customers you’re looking out for them. So you need to be able to understand their transaction activity and deliver real value to them.

“What we’ve found is that customers really appreciate the value exchange when their primary bank consumes and embeds their data. This is because banks that do so can deliver tailored advice and guidance around their day-to-day banking activity. 

“Of course, it remains as important as ever for banks to remain cognizant of the regulations and requirements around data, and give customers ease of access to their right to opt-out of data sharing.

“At Personetics, we’re geared to tailor our KYC tools for different regulations in different markets, and also poised for any anticipated changes in privacy restrictions in the relevant markets we operate in.”

For more from Bhagat and Personetics at Money20/20 USA, you can click on the video link above. 

Want to see more from Money20/20 USA 2023? Stay tuned to our website for more content, which will be rolled out in the coming days.

**************

Make sure you check out the latest edition of FinTech Magazine and also sign up to our global conference series – FinTech LIVE 2024

**************

FinTech Magazine is a BizClik brand.

Share

Featured Articles

Capital One's Takeover of Discover: All you Need to Know

Capital One's proposed US$35.3bn acquisition of Discover Financial would bring together two of the largest credit card companies in the US

Sustainability LIVE Net Zero: Sustainable Finance Insights

Financial services and banking executives have the opportunity to hear from the world’s biggest sustainability leaders discussing the future of Net Zero

EPAM: 96% of Consumers Happy With AI in Banking

EPAM Continuum has conducted its 2024 Consumer Banking Report, suggesting that 96% of consumers are happy with banks adopting AI

Bitcoin Reclaims US$1tn Valuation; the Bull Market is Here

Crypto

COMING SOON: Top 100 Women in FinTech 2024

Digital Payments

FinTech LIVE Dubai: Linoy Kidd, CIO at HSBC

Financial Services (FinServ)