PwC has made a strategic move to strengthen its regulatory compliance services with the acquisition of KYC-Pro, a regtech solution developed by UK-based financial services compliance firm FSCom. This acquisition underscores PwC’s broader strategy to expand its footprint in the financial crime operations space, particularly focusing on the rapidly evolving Know Your Customer (KYC) management sector. As financial crime and anti-money laundering (AML) regulations continue to tighten across the globe, organizations are investing heavily in KYC solutions to ensure compliance. Research indicates that European banks are set to spend over €1 billion annually on KYC management by 2020, further highlighting the growing importance of efficient, automated solutions in this domain.

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