Experian launched a new solution in the United Kingdom that streamlines know your customer (KYC) checks by continuously monitoring customer data from internal and external sources and automatically flagging data changes that may indicate risk. The Financial Crime Compliance Perpetual Monitoring solution reduces financial institutions’ reliance on manual periodic reviews, prompts them to further review the data changes that it flags, and allows them to focus on the most complex and high-risk cases, the global data and technology company said. Experian will roll out the solution across the banking and lending industry over the next year, after having worked with several major banks and lenders to pilot it. “Ultimately, our ambition is for Perpetual Monitoring to become the industry standard across the U.K. financial services industry, using best-in-class technology to prevent laundered money from entering and destabilizing the financial system,” Grant MacDonald, director of FinCrime market engagement, Experian UK&I, said. Lloyds Banking Group has been using a Perpetual Monitoring solution called Automated Portfolio Monitoring (APM) for “some time,” having developed it in collaboration with Experian. “APM has significantly reduced friction for our customers, streamlining touch points and creating a smoother, more seamless experience when we’re doing the checks we must do to protect and prevent financial crime,” Tom Martin, business platform lead at Lloyds Banking Group, said.