Data Management Insight Entity Data, KYC and Client Onboarding The latest content from across the platform
Markit | Genpact KYC Services Builds Out Offer and Names Ex-Goldman Sachs Exec Jon May as CEO
Markit | Genpact KYC Services has marked six months of operation with the appointment of former Goldman Sachs executive Jon May as CEO, the registration of more than 600 buy-side firms and corporations with its Know Your Customer (KYC) service, and the development of workflows that allow large asset managers operating thousands of funds to…
London Data Management Summit: Getting to Grips with Entity Data
Entity data management has moved up the agenda over the past year, driven by regulatory requirements, the establishment of the Legal Entity Identifier (LEI) and, in some cases, a desire to centralise and provide enterprise-wide access to entity data. A-Team Group’s London Data Management Summit discussed the progress of entity data management, as well as…
AIM Acquisition of Joss Technology Adds Entity Data Application and US Presence
AIM Software’s acquisition of Joss Technology will add an entity data business application to AIM’s Gain data management platform, as well as US based employees and customers who will help to power the company’s ‘go west’ strategy. The terms of the acquisition have not been disclosed, but once it is complete, Joss Technology will be…
CounterpartyLink Accelerates Entity Data Delivery with Datactics’ FlowDesigner
CounterpartyLink is accelerating provision of legal entity data to its customers through the integration of Datactics’ data quality and matching software with its workflows. Realising the need to increase the speed of entity data delivery and reduce manual data matching processes across its database of over 350,000 entities, CounterpartyLink contemplated building its own data matching…
CounterpartyLink Upgrades CPL Compliance Solution
CounterpartyLink has upgraded its CPL Compliance entity data solution with the addition of ultimate beneficial ownership information, more detail on Legal Entity Identifiers (LEIs) and the inclusion of Global Intermediary Identification Numbers (GIINs). The upgraded solution is designed to provide all the counterparty data required for compliance with Know Your Customer (KYC) regulations and is…
Accuity Repositions Data to Deliver KYC Identifier File
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…
Global LEI Foundation Weighs the Options of Operating or Outsourcing Central LEI Database
The board of the Global Legal Entity Identifier Foundation (GLEIF) met last week to discuss the master agreement that will define legal relationships between Local Operating Units (LOUs) and the foundation, governance of the foundation, and funding. It also touched on the technology requirements of the Central Operating Unit (COU) of the Global LEI System…
How Often Do You Screen Counterparties for Risk?
An interesting recent poll about compliance shows that 45% of firms screen their counterparties for risk on a daily or weekly basis. But a quite significant 39% still screen only annually. A remaining 10% screen monthly or quarterly, and 6% just one-time only at on-boarding. We can only believe that the frequency with which firms…
LEI Foundation Fixes Fees to be Paid by LOUs to Fund Global LEI System
The Global Legal Entity Identifier Foundation (GLEIF) has fixed the licence fee that Local Operating Units (LOUs) must pay to the foundation for each LEI they issue at $20 a year. It has also introduced a member credit fee of $10 per LEI that LOUs must pay to the foundation to supplement funding of initial…
EMIR Reporting Continues to Pose Data Management Challenge
The reporting requirements of European Market Infrastructure Regulation (EMIR) continue to challenge financial institutions six months after they came into force and ahead of regulatory intent to fine firms that fail to report correctly under the regulation. Industry estimates suggest that, to date, only 1% of trades have been correctly matched under EMIR due to…