KYC Issues & Approaches

Report date: 
31 Mar 2020

It seems there is no real solution in sight for a more streamlined, automated, simple and automated KYC process

  •  KYC remains a manual, troublesome, time consuming and inconsistent process across and within bank groups.
  •  In addition lines between KYC and AML requests seem to be blurred.
  • Good news is that some banks are (much) better than others.
  • There seems to be a limited number of vendors daring to tackle the conundrum but SWIFT’s offering seems to be a good solution or alternative, albeit limited to SWIFT customers
Contributors: 

This report is based on a Treasury Peer Call chaired by Karen Van den Driessche.

Topics covered in this report: 
KYC, AML, GDPR
Service providers discussed in this report: 
SWIFT, Bank of America, Citi, HSBC, Unicredit, Bloomberg, IHS Markit, JP Morgan, ING

Full report available to premium subscribers.

A premium subscription gives you on demand access to all CXC reports plus each new report sent to your inbox for one year.
Please enquire here to find out about our subscription packages.