SWIFT’s KYC registry rollout deemed ambitious

SWIFT has created a global know-your-customer (KYC) compliance registry geared to centralise financial data for regulatory purposes that will go live this year. Transaction bankers, however, have offered caution over its scheduled implementation.

By Emma Bi

Jan 27, 2014

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The Society for Worldwide Interbank Financial Telecommunication (Swift) has said it intends go live with a global know-your-customer (KYC) registry this year to help banks’ compliance processes and reduce the costs from implementing KYC regulations.

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