The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

IBEI Suppliers Tout Their Wares At London Gathering

A number of suppliers of business entity identifiers got together to tout their wares to a small assembled crowd of practitioner firms in London earlier this month under the ISITC banner. Although there is an ISO process underway for a naming convention related to International Business Entity Identifiers (IBEI), this is a slow process and it may at least a year or two before any fruits of this labour are seen. Institutions still need a solution to the ever-growing problem of entity identifiers for regulatory purposes (KYC and AML for example), and no one believes the market will support just a single supplier. Instead, the aim is to encourage vendors to talk to each other and hope for agreement on contentious issues. As such presentations were given by firms including Accenture, Asset Control, Azimuth’s Azdex (reportedly teaming up with Deutsche Borse), Cicada’s Counterparty Link, Coexis, Dun & Bradstreet, Oracle, Standard & Poor’s, and others. Some firms declined to present their offerings with other competitors in the room, or were not ready in time. Companies including Adsatis’ CreditDimensions, IBM, London Stock Exchange and SunGard did not present. According to several attendees, however, it is not clear what direction ISITC intends to take to follow up on this meeting.

Related content

WEBINAR

Recorded Webinar: The post-Brexit UK sanctions regime – how to stay safe and compliant

When the Brexit transition period came to an end on 31 December 2020, a new sanctions regime was introduced in the UK under legislation set out in the Sanctions and Anti-Money Laundering Act 2018 (aka the Sanctions Act). The regime is fundamentally different to that of the EU, requiring financial institutions to rethink their response...

BLOG

Five Misconceptions About KYC Compliance in 2020

By Ian Henderson, CEO, Kyckr. Know Your Customer compliance suffers from a problem of unintentional secrecy. Everyone knows that organizations are responsible for meeting their KYC and AML obligations and keeping up with KYC best practices, but that’s becoming harder and harder to do. KYC is not simply a matter of going down a list and...

EVENT

Data Management Summit Virtual

The Data Management Summit Virtual will bring together the global data management community to share lessons learned, best practice guidance and latest innovations to emerge from the recent crisis. Join us online to hear from leading data practitioners and innovators from the UK, US and Europe who will share insights into how they are pushing the boundaries with data to deliver value with flexible but resilient data driven strategies.

GUIDE

Regulatory Data Handbook 2020/2021 – Eighth Edition

This eighth edition of A-Team Group’s Regulatory Data Handbook is a ‘must-have’ for capital markets participants during this period of unprecedented change. Available free of charge, it profiles every regulation that impacts capital markets data management practices giving you: A detailed overview of each regulation with key dates, data and data management implications, links to...