Data Management Insight Entity Data, KYC and Client Onboarding The latest content from across the platform
Fenergo Partners Refinitiv for World-Check One KYC Data
Fenergo has connected its client lifecycle management (CLM) solution to Refinitiv’s World-Check One Know Your Customer (KYC) data through an application programme interface (API) integration. The partnership will enable financial institutions to streamline their KYC verification processes and anti-money laundering (AML) screening, and identify risk more efficiently. According to a recent Fenergo survey, 81% of…
Fenergo Research Finds Lack of Strategic Data Management in Client Onboarding
Fenergo has published the final instalment of its three-part Client Lifecycle Management Trends Report – Disrupt the Disrupters. Headline statistics show 33% of the C-suite banking executives surveyed for the report have not invested in any technology to improve client onboarding, despite 99% agreeing that underinvestment in technology directly impacts onboarding and retention. Only 15%…
IHS Markit Builds on Counterparty Manager to Deliver Onboarding Accelerator
IHS Markit has built out its Counterparty Manager service to deliver Onboarding Accelerator, a solution designed to help banks and other service providers open accounts with institutional clients more quickly and ultimately in one day. The accelerator’s technology is based on the company’s Counterparty Manager service that is used by 12,000 buyside customers and over…
Fenergo Partners To Build National KYC Utility for Bahrain
The Kingdom of Bahrain plans to improve client onboarding and minimise fraud through a partnership with Fenergo. Bahrain’s Electronic Network for Financial Transactions is working with Fenergo to implement a national KYC utility. The solution verifies customer identity via biometric identity and verification technology that links to Bahrain’s national identity card data before connecting to…
Bloomberg to Quit KYC Business
Bloomberg is planning to exit the Know Your Customer (KYC) market and withdraw its Entity Exchange KYC and client onboarding solution, as well as its Entity Intelligence screening service. The company has declined to discuss its reasons for quitting KYC and exactly when it will do so, but in a highly competitive market it seems…
Accuity Adds AI to Financial Crime Compliance Screening
Accuity has introduced an AI-driven account screening capability, Firco Automated Alert Reduction, aimed to increase accuracy in detecting and evaluating screening matches during Know Your Customer (KYC) processes. The solution results from Accuity’s acquisition of Safe Banking Systems in July 2018 and has been optimised through integration with WorldCompliance data. Rather than leaning on manual…
Release of ISIN-to-LEI Relationship Files on GLEIF Website Meets Mixed Response
The release of mapping between International Securities Identification Numbers (ISINs) and Legal Entity Identifiers (LEIs) by the Association of National Numbering Agencies’ (ANNA) and the Global LEI Foundation (GLEIF) has received a positive industry response, but also raised questions about why a significant number of National Numbering Agencies within ANNA have not yet opted into…
Fenergo Research Suggests Digitalisation of Customer Lifecycle Management Remains Elusive
Digitalisation of customer lifecycle management (CLM) is hampered by lack of departmental collaboration and difficulty in getting senior management buy-in. These barriers to digitalisation result in less than 40% of financial institutions canvassed in a recent Fenergo survey saying they are advanced in their digital transformation strategy. Headline statistics from the Fenergo CLM Report, the…
A-Team Group Data Management Summit Takes Industry by Storm
This year’s London Data Management Summit was a resounding success, answering the questions of hundreds of market participants working to transform, digitalise and innovate their approach to data management and drive value out of data. It touched on technologies from knowledge graphs to data standards that can help users achieve these goals, and provided actionable…
Datactics Extends Cloud-Based Data Matching Capability with Sanctions Match Engine
Datactics has extended its cloud-based data matching capabilities with a Sanctions Match Engine designed to support sanctions screening for Anti-Money Laundering compliance. The first release of the engine is free to use to a limited extent and includes the US Treasury Office of Foreign Assets Control (OFAC) and UK and EU sanctions lists. The sanctions…