About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Accuity Repositions Data to Deliver KYC Identifier File

Subscribe to our newsletter

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.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Best practice approaches to trade surveillance for market abuse

Breaches of market abuse regulation can lead to reputational damage, eye-watering fines and, ultimately, custodial sentences of up to 10 years. Internally, market abuse triggers scrutiny of traders and trading behaviours; externally it can undermine confidence in markets and cause financial instability. This webinar will discuss market abuse of different types, such as insider trading...

BLOG

Global Screening Services Raises $47 Million, Moves into Operational Phase

Global Screening Services (GSS), a provider of transaction screening, has completed a Series A2 funding round raising over $47 million (£37 million). The investment will support the London-based company’s transition from a development to operational phase as its cloud-native platform prepares to go live with inaugural clients. Originally incubated by AlixPartners, GSS tackles the complexity...

EVENT

AI in Capital Markets Summit London

The AI in Capital Markets Summit will explore current and emerging trends in AI, the potential of Generative AI and LLMs and how AI can be applied for efficiencies and business value across a number of use cases, in the front and back office of financial institutions. The agenda will explore the risks and challenges of adopting AI and the foundational technologies and data management capabilities that underpin successful deployment.

GUIDE

Regulatory Data Handbook 2023 – Eleventh Edition

Welcome to the eleventh edition of A-Team Group’s Regulatory Data Handbook, a popular publication that covers new regulations in capital markets, tracks regulatory change, and provides advice on the data, data management and implementation requirements of more than 30 regulations across UK, European, US and Asia-Pacific capital markets. This edition of the handbook includes new...