Mary Gardner will present “Knowing Your Customer in Cyberspace” at OLA’s 2022 Compliance University. Competing for customers means making onboarding as quick and effortless as possible. But some bad actors abuse the system by using fake identities to get loans, meaning swift conversion must be balanced with advanced protections. Know Your Customer (KYC) and Customer Identification Programs (CIP) are crucial elements for online lenders when they are validating a customer’s identity. This panel will cover everything a compliance officer needs to know about KYC/CIP, and how to balance efficient customer conversion with effective risk management.
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