e-KYC: Compliance Made Easy

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e-KYC: Compliance Made Easy

e-KYC: Compliance Made Easy

Dates:  28 August 2017 (8.30am - 5.00pm) 
Venue: Securities Commission Malaysia
Accreditation: SIDC CPE-approved: 10 CPE points


Customer due diligence can be cumbersome and time-consuming, not to mention ‘customer unfriendly’. Knowing the identity of a customer or KYC is one of the biggest processes in the capital market industry. From online lending, digital payments and crowdfunding, to robo-advisory and blockchain, digital technology is a transformative force in the marketplace. Digital technology is now seen as an innovation and a competitive edge to refresh and reenergize the customer due diligence process in the capital market industry.

  • Programme Delivery

    Programme Objective

    This programme aims to articulate the latest updates and use of digital technology to improve the quality of KYC processes in line with the regulatory requirements and recommend processes for improving customer experience.

    Learning Outcomes

    Upon completion of this programme, participants will be able to:
    • Describe the use of digital technology and its impact on the capital market
    • Recommend processes to improve customer experience via a digital approach to the KYC process and client onboarding in meeting the regulatory and technological requirements
    • Assess the potential use of blockchain technology in managing KYC efficiency
    • Discuss the issues, challenges and opportunities that digital technology may bring in the capital market industry

    Methodology

    Presentation & Case study discussions.

    Target Audience

    Compliance Officers, IT Officers, Risk Management Officers, Directors and Management Team (s).
  • Programme Outline

    Monday, 28 August 2017
    8:30am Registration
    9:00am Digitising the KYC (Know Your Customer) Process
    • Overview of digital technology in Malaysian capital market landscape
    • Technology platform varieties
    • Cost vs benefits
    • Reduction of paper-based processes in compliance
    10:30am Coffee Break
    10:45am Compliance and Customer Due Diligence (CDD)
    • Regulatory framework for digitization
    • Addressing the regulatory issues and compliance
    • Automated checks on companies
    Compliance and Customer Due Diligence (CDD)
    • Standard checks on verification of ID Documents
    • Anti-money laundering checks
    • Tools used (e.g. Optical Character Recognition (OCR)
    12:30pm Lunch
    2:00pm Blockchain: A Tool In Managing KYC
    • Transparency, Security, Data sharing
    • Efficiency - Speed of service to customers with automated transaction
    • Cost efficiency - Reduced administrative cost of duplicating
    • Powerful audit trail and control
    • Case Study ( India, Singapore, HK experience)
    3:45pm Coffee Break
    4:00pm Issues, Challenges and Opportunities
    • Trackling KYC and fraud issues
    • Improving customer on boarding 
    • Ensuring compliance and improved customer experience
    • Appropriately skilled manpower 
    5:00pm End of Programme
  • Programme Fees

    RM 950 + 6%GST = RM 1007