PricewaterhouseCooper Acquires KYC Tool From FSCom

PricewaterhouseCoopers’ Belfast-based change management division, PwC Operate, acquired last month the anti-money laundering tool (AML) KYC-Pro from FSCom, an Irish compliance consultancy focused on the financial services sector.

The Know Your Client (commonly referred to as KYC) regulatory requirement protects financial institutions from being used by criminals for money laundering purposes but has historically been inefficient and rife with inconsistencies due to lack of global standards. Clearsight Advisors sees tremendous opportunity in the KYC/AML space with the advent of modular technology that can fill gaps in building strong infrastructure, particularly as financial powerhouses seek out reliable and innovative methods of warding against financial crime intrusions.

Read more about the transaction to get Clearsight’s perspective on KYC enhancements as a competitive advantage to businesses in today’s marketplace.