A new Due Diligence Repository has been created to provide banks with ‘know your client’ data needed to carry out compliance checks. The service has been developed by Bankersalmanac.com and in association with the Wolfsburg Group – a group of twelve global banks working towards standards for various regulatory requirements. It aims to provide a centralized database of compliance-related documents alongside Bankersalmanac.com’s data of head office details, group structure, ownership and subsidiaries, key personnel and financials. Says Kerry Hewson, publishing director of Bankersalmanac.com, “The demands of Know Your Customer standards and Anti-Money Laundering measures mean it is becoming increasingly important for banks to have adequate controls, procedures and audit trails in place to protect themselves from reputational, operational and legal risks.”
A-Team Insight Blogs
Due Diligence Repository to Provide KYC Data for Compliance
As regulatory compliance becomes more complex, requires larger volumes of data – both structured and unstructured, and comes under greater scrutiny by regulators, financial institutions are looking for RegTech solutions that can help them increase efficiency, reduce costs, and improve the accuracy of regulatory data. One such solution is natural language processing (NLP), which can...
Liontrust Asset Management has implemented Fundipedia’s data management platform to provide golden source, validated, and trustworthy data for both the company and its downstream data vendors. The project was delivered by Fundipedia’s implementation team, which onboarded Liontrust’s data in less than 12 weeks. Vinay Abrol, chief financial officer and chief operating officer at Liontrust, says:...
TradingTech Insight Briefing New York will explore how trading firms are innovating and leveraging technology as a differentiator in today’s cloud and digital based environment.
The ESG landscape is changing faster than anyone could have imagined even five years ago. With tens of trillions of dollars expected to have been committed to sustainable assets by the end of the decade, it’s never been more important for financial institutions of all sizes to stay abreast of changes in the ESG data...