SWIFT Officially Launches KYC Registry
Move comes after pilot with handful of banks
The industry-owned cooperative says banks are not charged for data contribution, or for using the Registry to share their KYC information with other banks, which as Waters reported this summer, has become a significant issue both for the sell side and buy-side clients alike.
To maximize the Registry’s benefits, SWIFT will make data consumption free in 2015 for banks that contribute their own KYC information to the Registry and promote it to their correspondents, and is also introducing a KYCC
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