SWIFT has establishment the Know Your Customer (KYC) Registry, a data utility for bank compliance management, the XXX announced.
KYC Registry will go live later this year, according to a Jan. 7 press release. SWIFT will maintain and host the utility.
“Compliance with financial crime regulation is one of the major challenges that banks face globally, and customers have been asking us to provide industrywide solutions to streamline their associated processes, cut cost and reduce risk,” SWIFT CEO Gottfried Liebbrandt said in a statement.
To learn more about SWIFT’s yet-to-be-released data utility, read the full press release by clicking here.
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