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Data Management Insight Entity Data, KYC and Client Onboarding The latest content from across the platform

Copper.co Deploys Fenergo SaaS Solution to Streamline Client Onboarding

Copper.co, a provider of custody, trading and settlement services for digital assets, will deploy Fenergo’s SaaS-based client lifecycle management and anti-money laundering solution to onboard increasingly complex client ownership structures. With an excess of $50 billion in monthly notional flow across its infrastructure, Copper needs to automate its client onboarding process to cater for clients…

Real-time and Always on: The Benefits and Challenges of Perpetual KYC

Monitoring risks to companies during the onboarding of clients can be time-consuming and costly. Nevertheless, it’s an essential effort, demanded by regulators and expected by stakeholders who want to ensure their investments are protected. By streamlining the process, the impacts of know-your-customer (KYC) monitoring on corporate bottom lines and productivity can be reduced. Technology has…

Universal Key: Unlocking the Potential of Legal Entity Identifiers – What’s Left to Do?

By Eugene Ing, Executive Director, GMEI Product Management, DTCC. The 2008 financial crisis highlighted the significance of counterparty risk to the safety of the global financial system. In particular, it demonstrated the importance of identifying ownership structures of legal entities engaged in financial transactions. To create greater transparency in the global financial system, in 2009,…

Business Identity in the Digital Economy: A Global Problem Needs a Global Solution

By Stephan Wolf, CEO of the Global LEI Foundation. Businesses today face significant pressure to go digital. Government and private sector organisations around the world are racing to digitise processes, products, and services – even national currencies – to remove friction, save money, streamline operations, and improve user experiences. Despite the tremendous benefits it delivers,…

FSB Explores Potential of Adding LEIs to Cross-Border Payments

The Financial Stability Board (FSB) is encouraging greater adoption of the Legal Entity Identifier (LEI) in a report exploring its potential in cross-border payments. No implementation mandates are suggested, although the report does identify how the LEI could be a useful addition to payment transactions. The LEI is currently mandated for use in OTC derivatives…

Know Your Customer Offers Company Data from Local Registries Across 123 Countries

Know Your Customer has released an expanded version of its Know your Customer/Know Your Business (KYC/KYB) solution that covers company data and official incorporation documents from 123 countries worldwide. The data can be consumed using either Know Your Customer’s user interface or a single API. The expanded service provides real-time access to local company registries…

Protecting Data Privacy in the Fight Against Financial Crime

By Ronen Cohen, VP of Strategy at Duality Technologies. A primary goal for financial institutions is to generate revenue while understanding and mitigating risk. Tackling financial crime and compliance issues, including fraud, cybercrimes and money laundering, is critical to achieving this goal and remains among the most challenging tasks for the industry. The perpetual problem…

Data – the Answer to Meeting Sanctions Screening Challenges Exposed by Ukraine War

The war in Ukraine has highlighted not only the importance of having effective sanctions screening and control processes in place, but also the compliance challenges of modern sanctions regimes. Within the space of days, far-reaching restrictions were placed on individuals, organisations, companies and states covering large parts of the Russian economy and authorities, with the…

Recorded Webinar: Adding value and improving efficiencies in sanctions screening

Sanctions have been headline news this year. They are growing in number, sanctions lists are changing on a daily basis, and there can be conflict between sanctions issued by different jurisdictions – the whole calling for financial institutions to optimise sanctions screening to reduce risk and avoid potentially punitive penalties of non-compliance. This webinar will…

Encompass Forms Transformation Team to Help Banks Drive KYC Automation Initiatives

Encompass, a provider of a Know Your Customer (KYC) automation platform, has set up a transformation team charged with ensuring banks reap the benefits of automation initiatives. The team will help companies define what success means and facilitate organisational alignment required to achieve KYC transformation. Encompass transformation directors include former Barclays senior executive Howard Wimpory,…