RegTech Insight AML, KYC & Financial Crime The latest content from across the platform
Recorded Webinar: The Data Management Challenges of Client Onboarding and KYC
A-Team Group recently held a webinar on the popular topic of The Data Management Challenges of Client Onboarding and KYC, discussing the data management challenges of client onboarding and KYC, and detailing new technology solutions that have the potential to automate and streamline onboarding and KYC processes. If you missed it, don’t worry! You can register…
Bureau van Dijk offers Datasets that Fulfil Expected Requirements for LEI Data Hierarchies
Bureau van Dijk (BvD), a provider of company information, is ready to meet financial institutions’ requirements for Legal Entity Identifier (LEI) hierarchy data once the data is defined by the Regulatory Oversight Committee (ROC) of the LEI or agreed by financial market participants for use in the Global LEI System. The lack of defined LEI…
Mizuho International’s Implementation of GoldenSource EDM Reduces Operational Risk and Improves Data Quality
Mizuho International has reduced operational risk, improved data quality and cut down the time it takes to onboard clients by replacing legacy systems and manual processes with an enterprise data management (EDM) solution from GoldenSource. The London-based securities and investment banking arm of Mizuho Securities, part of the Mizuho Financial Group, selected GoldenSource EDM in…
Alacra and Accuity Partner to Integrate Bankers Almanac with Alacra Compliance Enterprise
Accuity and Alacra have partnered to integrate data from Accuity’s Bankers Almanac with the Alacra Compliance Enterprise (ACE) workflow application. The partnership includes integration of Bankers Almanac’s Due Diligence Data File with ACE and is expected to increase the speed and efficiency of client onboarding. The partnership has been made in response to client requests…
Swift Considers Client Name Screening Service Based on Sanctions Screening Managed Service Model
Swift has extended its sanctions screening service to support all financial transaction formats and is considering the feasibility of using a similar managed service model to build a client name screening solution that could support banks’ client onboarding and Know Your Customer (KYC) processes. Extensions to Swift’s sanctions screening service cover batch SEPA payments and…
Man Group Streamlines KYC Process with Thomson Reuters Managed Service
Man Group has selected Thomson Reuters’ KYC Managed Service to replace predominantly manual in-house customer due diligence processes. The managed service is expected to help the alternative investment manager streamline its Know Your Customer (KYC) process and improve the monitoring of client records on an ongoing basis. Man Group searched the market for a global…
New York Data Management Summit: The Challenges and Opportunities of Client Onboarding
The data management challenges of Know Your Customer (KYC) and client onboarding have been discussed for a couple of years, but as hefty fines are imposed for non-compliance and the struggle to reduce operational costs continues, financial institutions are reconsidering their approach and beginning to implement managed and shared service solutions. The challenges and opportunities…
A-Team Webinar Offers Solutions to the Data Management Problems of FATCA
The US Foreign Account Tax Compliance Act (FATCA) raises significant data management challenges, but it is only one of a number of tax avoidance schemes that are emerging, making a strategic rather than tactical approach the best way to achieve compliance. The challenges of FATCA were discussed during a recent A-Team Group webinar entitled ‘How…
A-Team Webinar Discusses the Next Frontier of Customer Due Diligence
Customer onboarding processes are often complex and burdensome, leading to poor customer service despite significant investment and costly penalties resulting from non-compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. These problems can damage financial firms’ customer relationships, reputations and ongoing business, but they are not insurmountable if collaborative technology approaches are embraced…
Regulatory DataCorp Builds Up Risk and Compliance Business in Europe
Regulatory DataCorp (RDC), a provider of governance, risk and compliance solutions, has built up its European business to include over 50 global banking institutions, insurance firms, corporates and financial technology providers since it established a London office in May 2014. Set up in 2002 in the US by 20 leading financial institutions, RDC provides industries…