Swift Expands KYC Registry
Correspondent bank service will now also address funds distribution, custody services
Swift has expanded its KYC Registry to serve funds distribution and custody services, to help those activities comply with know-your-customer regulation.
The KYC Registry, begun to provide correspondent banks with a standard set of qualified data and documentation for know-your-customer obligations that is validated by Swift for sharing with counterparties, launched in December. The registry includes entities from more than 110 countries.
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