The KYC Registry

A secure, shared platform to exchange standardised Know Your Customer data

Central banks choose The KYC Registry to promote greater transparency

By submitting data to The KYC Registry, banks can opt into a global best practice standard for KYC compliance – and satisfy their international correspondents and regulators simply and effectively.
Central banks are using community campaigns to encourage participation in the Registry, leading to increased transparency and more robust compliance across their jurisdiction.

A route to compliance best practice

Central banks play a leading role in setting and requiring high standards of transparency and compliance with anti-money laundering and Know Your Customer regulations and practices amongst banks in their jurisdiction.

The KYC Registry provides very practical help towards achieving this, particularly for developing or emerging markets.

The KYC Registry promotes transparency

The Registry offers financial institutions an easy and cost-free way to share the information required by their counterparties for due diligence. Banks contributing data to the Registry must submit a baseline set of documentation that addresses KYC requirements across multiple jurisdictions – a global best practice standard for KYC compliance. SWIFT worked with a group of the world’s largest banks to define these requirements.

Benefits for banks  

There are strong reasons for financial institutions to join up to The KYC Registry:

  • Once they’ve uploaded their KYC data and it’s been validated by SWIFT, FIs can share it with multiple counterparties, reducing the burden of responding to multiple bilateral requests.
  • It’s easier to meet the due diligence requirements of potential correspondents, increasing business opportunities.
  • Financial institutions can also request data from other users of the Registry, to complete their own due diligence – and receive KYC data in a standardised format, improving process efficiency

Benefits for central banks

A number of central banks are choosing to promote The KYC Registry membership to banks in their jurisdiction. It’s a really valuable way to strengthen compliance in line with international best practice and anti-money laundering regulations. This, in turn, helps contribute to increased investor confidence and inward investment, benefiting the national economy.

Of course, central banks can themselves use the Registry to exchange KYC data with their commercial correspondents, with the same transparency and efficiency benefits: a single source of standardised, up-to-date KYC information about banks in their jurisdiction and beyond.

Central bank community programmes

With community days and group incentives, we’re helping central banks in Latin America, Africa, Asia, and Central and Eastern Europe promote the benefits of thorough KYC and The KYC Registry to their local banking communities.  

Why not talk to us about our central bank community programmes using The KYC Registry?

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