25 April 2018

The KYC Registry – better than ever

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
Compliance

The KYC Registry

The KYC Registry lets financial institutions exchange KYC information simply and securely, increasing transparency while eliminating costly and redundant document exchanges.

Extended reading

News

SWIFT’s KYC Registry: the key to overcoming KYC challenges

Deutsche Bank cites The KYC Registry as the driving force behind industry change
News

In Conversation with Wolfsberg

Pressing priorities and trends
News

SWIFT echoes industry’s support for correspondent banking due diligence initiative, aligning KYC Registry with latest Wolfsberg Questionnaire

As part of its ongoing efforts to support the industry in tackling the global decline in correspondent banking relationships, SWIFT has aligned...

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