The KYC Registry

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

A quick-start guide to The KYC Registry

The KYC Registry Quick Start Guide

Download (1.76 MB)
Last update: 
6 August 2015

Get up and running on The KYC Registry as quickly as possible

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Prepare

Select your entities

First, decide which of your group legal entities will be documented on The KYC Registry and/or will use the Registry to collect KYC information from counterparties.

Only regulated entities within your group are eligible. They must be recognised as active in correspondent banking and have a SWIFT BIC code. You can check current BIC codes on swift.com.

Prepare your data

The next step is to identify where the information required by the KYC Registry is held internally, and how it is maintained. Maintenance processes may need amending once The KYC Registry becomes the preferred channel for sharing your institution’s KYC information.

A full list of required documentation is made available when you sign up for The KYC Registry, or you can request it at kyc.registry@swift.com

Identify your team

Next, identify the KYC Registry team within your organisation. Those who currently provide KYC data to your correspondent banks will typically be the people responsible for uploading, maintaining and approving access requests for your data on The KYC Registry. They are usually members of the legal or relationship management department, or group secretariat.

Select your KYC Registry administrators for the relevant entities.  The KYC Registry administrators will be able to invite additional users, assign user roles and entities, manage data inheritance between entities within your group and other application settings.

Your KYC administrators will be responsible for all entities included in your institution’s KYC Registry registration.

You also need to select the users who will collect other institutions’ data using The KYC Registry. They may have a ‘view only’ role but can also request access to other entities’ data.

Create user accounts

Your institution’s KYC Registry administrators are responsible for managing access rights for your team members. Before using The KYC Registry, each user (including administrators) must create their own user account (login and password) on swift.com

To create a swift.com user account:

  • Go to swift.com and click on Register Now
  • Enter the BIC code for the entity you represent
  • As business justification, select KYC Registry
  • In the second screen, where you can select the services you want to access, tick the Case manager box under Support services.

Your institution’s swift.com administrator must approve all new swift.com user accounts. Once approved, the swift.com system will generate an account activation email to new users. Now your KYC Registry administrators can invite the new user to start using The KYC Registry. More information on creating user accounts is available on swift.com.

Activate your registration

To start using The KYC Registry, create an e-order on the SWIFT website. This must be created by someone authorised to order SWIFT products and services on behalf of your institution.

When placing an e-order, the required information includes:

  • A list of entities in scope
  • The name of the group of entities (usually the legal name of the parent institution)
  • The email contact details of the two KYC Registry Administrators.

Additionally you can order:

  • SWIFT Traffic Profile(s) for one or more of your entities
  • An enterprise licence (if ordered for the whole group).

More information on the ordering process is available on the SWIFT website. If you need help identifying those authorised to place SWIFT orders, contact your local SWIFT sales office.

Connect

Once your subscription is completed, the KYC Registry administrators can connect to The KYC Registry.

Login to the Registry

At first login, the Administrators must configure and activate the two-step verification authentication:

  • Click on Setup two-step verification
  • Enable one or more two-step verification methods
  • Complete login using the verification code that you receive via your preferred channel.

Watch a video on the two-step verification setup

SWIFT Explained: Two-step VerificationSWIFT Explained: Two-step Verification

First tasks

Once logged in, the administrators’ first tasks will be:

  • Invite users to join the service
  • Define the roles and entities for each user
  • Select either the two-eyes or four-eyes mode for approving data pre-submission.

Watch a video about user administration processes

The KYC Registry – User administrationThe KYC Registry – User administration

Publish

Submitting data to The KYC Registry is simple and efficient. Follow these steps to upload and share your data with your counterparties.

Submit your data

Make sure that at least one of your users has the submitter role. If four-eyes mode is enabled, two Approvers must be registered.

Search for the relevant entity in the My entities list and select the entity to be updated. Select the data category to be edited and click on Create draft to start editing content.

Note: each data category is edited separately.

Update the data fields with the requested information and upload the requested documents in the Supporting documents section at the bottom of the page.

When complete, click on Save draft then Submit draft for qualification by SWIFT (or for prior internal approval, if four eyes mode is enabled).

If four-eyes mode is enabled, the approver will receive a request for approval in their KYC Registry inbox. They must click on the request, review the draft and then Submit the draft for validation by SWIFT.

Data validation and publication

Once you’ve submitted information, SWIFT KYC Operations will validate the data in line with the KYC Registry Baseline Qualifications Summary, which is available in the documentation tab of The KYC Registry.

Following successful validation, your information will be published and listed as available on The KYC Registry. A notification will be sent to the data owners (submitters and approvers) either via the KYC Registry inbox or by email, according to their preferences.

If a document is rejected, SWIFT will notify the data owners and request correction before publication.

Your KYC data will never be shared with another institution without your explicit permission. In order to share your data with counterparties, make sure that at least one of your users has the Granter role which enables them to approve access requests.

Watch our video on contributing data to The KYC Registry

Compliance, KYCThe KYC Registry – Data Contribution

Access counterparty data

It is simple to search for counterparties’ data using The KYC Registry.

Make sure that at least one of your users has the Requester role.

In the Find KYC data tab, search for and select the entity for which you wish to request access.

Click Request access and wait for your counterparty to respond.

Once your access request is granted, you and your group can consult the data directly from the My Counterparties tab as frequently as you need.

You can monitor and manage access requests from your counterparties using your KYC Registry inbox. You can also set up your user preferences to receive notifications by email.

Watch our video on accessing counterparty data on The KYC Registry.

Compliance, KYCThe KYC Registry – Data Consumption

The KYC Registry Quick Start Guide

Download (1.76 MB)
Last update: 
6 August 2015

Get up and running on The KYC Registry as quickly as possible

  • Collateral
  • Product guides
English