Pimco Chooses kyc.com and Markit For Onboarding
Investment giant signs up service providers for customer due diligence
Asset management firm Pimco has chosen kyc.com, a joint venture of Markit and Genpact, and Markit itself to provide due diligence and onboarding services, according to officials of the companies.
"Pimco looks forward to working closely with Markit in using Counterparty Manager, Tax Utility, kyc.com and the entire regulatory and compliance ecosystem," says Tracey Jordal, executive vice president and senior counsel for trading and markets at Pimco. "The seamless interoperability between these platforms to support client onboarding, master agreement negotiation and tax validation as a unified group of steps is particularly beneficial."
Kyc.com, which partnered with Fenergo in January to provide client lifecycle management, and Markit, together offer an integrated service for client onboarding, know-your-customer and anti-money laundering issues, and managing tax, legal and credit agreements. Their central repository facilitates exchange of counterparty documentation and validated entity data.
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