Know Your Customer (KYC)

Effective KYC processes are the backbone of any successful compliance and risk management programme, and the demands of meeting KYC obligations are intensifying.

In an increasingly global economy, financial institutions are more vulnerable to illicit criminal activities. Know Your Customer (KYC) standards are designed to protect financial institutions against fraud, corruption, money laundering and terrorist financing.

About KYC

Know Your Customer

The rising challenge of Know Your Customer compliance

Know Your Customer (KYC) standards are designed to protect financial institutions against fraud, corruption, money laundering and terrorist financing.
Know Your Customer

KYC checks: a growing challenge for corporate treasurers

KYC checks are one of the top three challenges corporate treasurers face in their banking relationships.
Know Your Customer

The KYC process: a major compliance effort for correspondent banks

Banks are looking to streamline their KYC processes for business to continue to thrive, improve client experience and satisfy regulatory demands.
Know Your Customer

What is an Ultimate Beneficial Owner (UBO)?

Ultimate Beneficial Owner (UBO) legislation has been put into place to give banks and corporates clarity on who they’re doing business with.
Know Your Customer

What is Customer Due Diligence (CDD)?

In the world of Financial Crime Compliance (FCC), customer due diligence (CDD) is an important and complex field.
Real-time payments

Embrace shared solutions to meet the new reality of instant payments

Build approaches and standards that benefit the whole community.

Resources

White Papers

Solving the KYC Conundrum

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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Information Papers

Achieving standardisation in KYC compliance

Standardisation brings efficiency gains in compliance processes

PDF icon Download (72.35 KB)
Information Papers

How big is your KYC data?

Access to high quality, standardised data is key to keeping on top of your KYC requirements.

PDF icon Download (70.73 KB)

Our solutions

Product

KYC Registry

Simplifying the Know Your Customer (KYC) process.

Report: Solving the KYC Conundrum

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.

Latest news about Know Your Customer (KYC)

16 December 2019

Enabling smoother Know Your Customer (KYC) processes for corporates

SWIFT’s KYC Registry now enables corporates to efficiently manage and share KYC data with their banking partners across the globe.
17 April 2020

What does the 5th AML Directive tell us about registries and their role in combatting financial crime?

With the recent introduction of the 5th AML Directive, registries are set to play a more important role than ever in the...
29 October 2019

Fostering trust and transparency in global correspondent relationships alongside the Wolfsberg Group

A standardised due diligence approach fosters trust and transparency between correspondent banks. Wolfsberg Group’s Correspondent Banking Due Diligence Questionnaire (CBDDQ) aims to...
29 August 2019

How is the race towards instant payments shaping the world of compliance?

As demand for speedier cross-border payments continues to grow, so too does the burden on banks to keep these payments compliant and...