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KYC Marketing – Know Your Customer Opportunity for Lenders, Banks, & Credit Unions


  • Compliance and regulations create a sense of fear
  • Some lenders, banks, and credit unions struggle with technology and core platforms
  • KYC (Know Your Customer) regs are actually marketing opportunities

Know your customer (KYC) in the financial world refers to the bank regulation which governs these activities.  The USA PATRIOT Act dictates that institutions "shall establish appropriate, specific, and, where necessary, enhanced, due diligence policies, procedures, and controls that are reasonably designed to detect and report instances of money laundering through those accounts."  This federal oversight also identifies related processes that are required to conform to a customer identification program.

Banks, lenders, credit unions, and other types of financial institutions come under the scrutiny of this federal regulation.  Any entity that provides financial products can be observed and audited under these regulations.

Some financial services companies are comfortable with legacy systems but know they can be more efficient with updated technology.

With these concepts in mind, we can turn this issue into an opportunity.  Instead of viewing this as a compliance issue, I like to position this as a marketing outreach effort.  KYC initiatives have a great utility when we add just a bit of technology.  Below is one of our processes we use to kill two birds with one stone.

kyc marketing, know your customer marketing

KYC compliance is a marketing opportunity. Don't fear it. Attack it with social media data mining tools.

For a more detailed explanation of this process along with a view of one of the social media data mining tools, check out my post on LinkedIn:  Banks and Credit Unions:  Use Social Media Data to Offer the Right Products

Contact me directly at 561-602-2835 if your organization would like to learn more about this process or any other digital execution.