Banks typically reject 6-15 percent of would-be clients: survey
27 Sep 2016

Banks wary of doing business with potentially troublesome clients typically turn away between 6 and 15 percent of people seeking to become customers, a survey released on Tuesday found.

The study by LexisNexis Risk Solutions of banks in eight financial centers found 14 percent of banks turned away 5 percent or less of individuals due to current know-your-customer (KYC) or credit risk decision processes.

Only 5 percent showed the door to more than 25 percent of potential clients.

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