Swift's KYC Registry Made Available for Fund Distributors, Custodians

Swift expands due diligence service beyond correspondent banking.

taylor-paul1
Paul Taylor, director of compliance services at Swift, says while customer demand primarily led to KYC Registry's expansion, Swift always planned to broaden it.
  • LinkedIn  
  • Save this article
  • Print this page  

The KYC Registry, originally launched in December 2014 for correspondent banks, allows clients to contribute a baseline set of data and documentation for validation by Swift, which can then be shared with the clients' counterparties.

Paul Taylor, director of compliance services at Swift, tells Buy-Side Technology the decision to expand on The KYC Registry reach was primarily due to customer demand. However, Swift had always planned to eventually expand the service, and funds and custody services are two areas where the firm already has a good market share, according to Taylor.

"Fund distributors and custodians need The KYC Registry for the same reasons as correspondent banks. With increased use of financial sanctions globally, and regulatory pressure to maintain strong sanctions compliance capabilities, the spotlight has fallen more on the securities industry," Taylor says. "As a result, fund distributors and custodians need to conduct the similar due diligence required for KYC compliance, which The KYC Registry can help address."

Swift is headquartered in Brussels.

 

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe

You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.

Copyright Infopro Digital Limited. All rights reserved.

As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.

If you would like to purchase additional rights please email info@waterstechnology.com

Copyright Infopro Digital Limited. All rights reserved.

You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.

If you would like to purchase additional rights please email info@waterstechnology.com

More on Trading Tech

If M&A picks up, who’s on the auction block?

Waters Wrap: With projections that mergers and acquisitions are geared to pick back up in 2025, Anthony reads the tea leaves of 25 of this year’s deals to predict which vendors might be most valuable.

Removal of Chevron spells t-r-o-u-b-l-e for the C-A-T

Citadel Securities and the American Securities Association are suing the SEC to limit the Consolidated Audit Trail, and their case may be aided by the removal of a key piece of the agency’s legislative power earlier this year.

Enough with the ‘Bloomberg Killers’ already

Waters Wrap: Anthony interviews LSEG’s Dean Berry about the Workspace platform, and provides his own thoughts on how that platform and the Terminal have been portrayed over the last few months.

Most read articles loading...

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here