Four in 10 UK businesses abandon banking services applications over slow due diligence processes

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38 per cent of UK businesses have deliberately abandoned an application for banking services in the last year due to ‘slow due diligence processes’, according to new research from Encompass Corporation, the Know Your Customer and regulatory technology (RegTech) specialist. The survey, which polled 200 business decision-makers in large and medium sized businesses, was conducted between Wednesday…

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