Solving the KYC Conundrum

EuroFinance in partnership with Swift

 

Ask a treasurer about the impact of Know Your Customer (KYC) on his or her organisation, and you are unlikely to be met with enthusiasm. From frustration about time spent on an activity that adds no value, to stories of delays, duplicated effort and even abandoned banking relationships, the impact of the KYC burden is felt to varying degrees by treasurers around the world – and can be particularly arduous for companies with low credit ratings, as well as those based in higher risk markets.

Drawing on discussions with numerous treasurers around the world, this white paper delves into the difficulties treasury teams face as a result of KYC requests and explores the impact on their operations and banking relationships.

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