Northern Trust Looks to Facial Recognition for KYC
The firm is experimenting with the technology, which is slowly being rolled out at retail banks and big tech companies.
Northern Trust is building out facial recognition functionality and is developing the ability to provide access to its services through multiple devices.
For that first piece, the bank’s technology arm looks to automate the processes around know-your-customer (KYC) and anti-money-laundering (AML) using facial recognition technology. According to Laurence Everitt, head of global fund services, it is expected to make tasks such as onboarding new investors more efficient than existing
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