KYC Outsourcing Services: How Bandalier Builds KYC Teams

FinTech leaders have to juggle a long list of priorities when building their KYC teams. When it’s time to scale quickly, partnering with a talent-focused organization like Bandalier makes building an outsourced KYC team simple.

What is KYC?

KYC is an abbreviation for the phrase ‘Know Your Customer’ or ‘Know Your Client’. It refers to a wide variety of practices used across the financial industry to identify new customers, verify their identity, and validate their transactions. KYC processes protect individuals and institutions from fraud and money laundering.

To complete the KYC process, teams must review the data provided by their customers. In some cases, they may complete additional research on specific customers. The KYC process is supported by a wide range of tools.

Solutions to Scale: KYC Outsourcing Services

When FinTech companies see an influx of new customers, accelerating their KYC process quickly becomes a top priority. Teams of KYC analysts have to be diligent in their review, and periods of high growth can overwhelm small teams. Adding resources is essential for companies that need to quickly onboard a large influx of new customers.

However, hiring new team members comes with its own challenges. Between the difficulty of finding a great fit and the time spent waiting for new hires to onboard, many companies anticipate a ramp time of at least 8 weeks for new hires. If your KYC team is already falling behind, they’ll need help fast.

How Bandalier Builds KYC Teams

Launching an outsourced KYC team with Bandalier happens within weeks – not months. We’ll get to know your existing team, the tools they use, and the skills that are essential for their success. Then, we’ll pair you with the team members who are best suited to help your team scale. As they grow with your team, they’ll deliver feedback to help your team iterate on their existing processes. Bandalier’s leadership team will be with you every step of the way to handle the team’s day-to-day needs.

To learn more about our outsourced KYC teams, contact us today.