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

BAFT and Bankersalmanac.com Collaborate to Extend Due Diligence Repository

Subscribe to our newsletter

Originally appeared in MiFID Monitor

Bankersalmanac.com and the Bankers’ Association for Finance and Trade (BAFT) have agreed to collaborate on promoting and extending the coverage of the reference data vendor’s Due Diligence Repository, which was launched in 2004. The repository has been set up by Bankersalmanac.com as an industry utility and BAFT will be engaged in encouraging its member banks to submit their compliance documents and subscribe to the repository as a source of data for compliance.

Charles Silverman, president, board of directors at BAFT, explains: “The development of Bankersalmanac.com’s Due Diligence Repository as an industry tool offers considerable efficiency gains, both across the sector and within individual institutions. As a global industry association, BAFT recognises the value of such a service.”

The Due Diligence Repository was launched in association with the Wolfsberg Group and provides the primary information required to conduct due diligence checks on bank counterparties, says the vendor. Currently, it contains more than 64,500 documents against 16,800 financial institutions, comprising licences, corporate governance documents, anti-money laundering policies, USA Patriot Act/Foreign Bank Certification and the Wolfsberg Group Anti-Money Laundering Questionnaire.

With a view to encouraging wider industry adoption, BAFT formed an advisory group from its member banks who attended a workshop hosted by Bankersalmanac.com earlier this year to review the existing Due Diligence Repository together with proposed feature and methodology enhancements.

Kerry Hewson, director of Bankersalmanac.com, comments: “Our objective has always been to establish the Due Diligence Repository as the global de facto industry standard, providing consistency and conformity in due diligence document checks and reducing the administrative burden that banks face when conducting know your customer (KYC) assessments on their counterparties. The support of associations such as BAFT and the Wolfsberg Group is of major importance to us in developing the repository to meet industry needs and our collaboration with both associations will bring further value to the sector.”

Subscribe to our newsletter

Related content


Recorded Webinar: Real world data governance – Practical strategies for data ownership

The theories of data governance and ownership are well rehearsed. Essentially, data governance includes rules and processes that make data accurate, compliant and accessible, ensuring the right users can access trusted data as and when they need it. Data ownership assigns responsibility and accountability for a specific dataset to an individual or team that can...


Pensions Insurance Corporation Selects FINBOURNE Cloud-Native Data Management Platform

Following a market review, Pension Insurance Corporation (PIC) has chosen FINBOURNE Technology to provide investment data management capabilities that will help drive its data strategy. PIC, a specialist UK pension insurer, manages a portfolio of about £45 billion and provides guaranteed pensions to over 300,000 people in the UK. It will use FINBOURNE’s cloud-native financial...


RegTech Summit London

Now in its 8th year, the RegTech Summit in London will bring together the RegTech ecosystem to explore how the European capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.


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...