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Average time of completing a Know Your Customer (KYC) review for a medium-risk client in banking worldwide in 2024

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Source

Release date

November 2024

Region

Worldwide

Survey time period

2024

Number of respondents

453 respondents

Special properties

226 respondents from corporate and institutional banking and 227 from commercial banks.

Supplementary notes

The source conducted a survey involving C-suite executives from global banks located in the United Kingdom, the United States, and Singapore. The survey specifically focused on corporate and investment banks (C&IB) with assets under management (AUM) exceeding 100 billion U.S. dollars, as well as commercial banks with AUM greater than 50 billion U.S. dollars.

Citation formats

Average KYC review time for medium-risk clients in banking worldwide 2024

Published by K. Scholle, Jun 3, 2025

In 2024, the time taken by banks worldwide to complete Know Your Customer (KYC) reviews for medium-risk clients varied significantly. The most frequently reported timeframe was ** to *** days, cited by ** percent of institutions. This was followed by ** to ** days at ** percent, and *** to *** days at ** percent. At the shorter end, ** percent of banks completed reviews within *** to ** days. At the longer end, **** percent reported timeframes of *** to *** days, and *** percent indicated durations of *** to *** days.

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