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The KYC Registry – increased efficiency of your Know Your Customer process

The KYC Registry – increased efficiency of your Know Your Customer process

Financial Crime Compliance,
25 April 2018

Three new KYC Registry developments make it easier than ever to increase the efficiency of your Know Your Customer process

Improved counterparty monitoring

The new Advanced Notification feature allows you to define your own correspondent client base and monitor your clients for changes to their KYC Profile. This cuts through the ongoing complexity of monitoring clients between review dates, allowing you to customise your preferences across client segments and/or countries down to the exact point of relevant - and only relevant- data. So the Registry provides clarity on what is most important to your organisation in a time and cost effective way.

Wolfsberg Questionnaire

The KYC Registry aligns with latest Wolfsberg questionnaire

Registry members can answer every Wolfsberg question directly on the platform, increasing transparency and streamlining due diligence processes. In February, the Wolfsberg Group published a revised version of the Correspondent Banking Due Diligence Questionnaire (CBDDQ), complemented by an abridged Financial Crime Compliance DDQ (FCCDDQ), and we will update The Registry to reflect all changes in the near future.  Read more

New bulk request and approval feature (since 7 April)

KYC Registry users can now easily and quickly replicate their entire correspondent banking network on The KYC Registry through a simple copy-and-paste action. The platform will then create or approve access requests automatically, replacing the  manual procedure which had to be repeated each time a user wanted to create more than one KYC relationship.

The KYC Registry: Simple, secure, standards-driven

  • High quality, validated KYC data and documents in one place
  • Standardised data and documentation, fully aligned with Wolfsberg
  • Reduces cost and risk
  • Growing fast – more than 4,600 financial institutions already joined