Accuity has repositioned data from its Bankers Almanac payments solution and Know Your Customer (KYC) Due Diligence Data File to deliver a KYC Identifier File that allows Legal Entity Identifiers (LEIs) and Global Intermediary Identification Numbers (GIINs) to be matched to banks’ counterparty records.
The KYC Identifier File also provides access to BICS, internal Accuity identifiers, company head office details, branch details and alternative name details that can be integrated with bank systems to support a single view of a customer.
The identifier file is a response to customer requests for a solution to match LEIs and GIINs to counterparty records and can be used to update existing databases and support customer on-boarding. It is available immediately and refreshed on a weekly basis. In future, further identifiers, such as tax identifiers, may be added to the file.
Kerry Hewson, executive vice president at Accuity, says: “The ability to enrich existing customer data with these identifiers and support the matching of entities across databases will help to create a single view of a customer. The KYC Identifier File is another step in providing tools that ensure access to accurate data, improve clients’ ability to respond rapidly to regulatory demand, and mitigate risk.”
Accuity is sourcing core bank information for the KYC Identifier File from its existing database. BICs, LEIs and GIINs are sourced from their originators and matched to data in the database. The company is also using GIINs, which are required to identify foreign financial institutions under the Foreign Account Tax Compliance Act (Fatca), as a starting point to gather further data and documents that are required for Fatca compliance.