Thomson Reuters Org ID aligns with Singapore banks’ Know Your Customer Practices
by Kylene Casanova
Thomson Reuters adopts Singapore banking association's outsourcing service providers framework, extending KYC service
electronic Bank Account Management
Background
Most medium to large companies use an average of six cash management banks, within this average about 30% use 6 or fewer, 40% use 7-20, and 30% use 21 or more. The number of bank accounts managed…
Read moreKYC services expand to include due diligence across all regulations and regions
by Kylene Casanova
kyc.com’s KYC and due diligence service gains traction with more member banks and more corporate users
Beware: personal liability for regulatory compliance coming & alerts reach 200/day
by Kylene Casanova
Thomson Reuters Global Cost of Compliance 2016 Survey reveals: more regulations and fewer resources squeeze financial compliance teams, regulatory changes expected to continue growing, and controls get more personal
e-Identity is coming to your life, there is no escape whether you like it or not
by Kylene Casanova
UK government, banks and corporates are working together to create a new world of digital identities
‘One Treasurer’s Wish List’ for the good corporate treasury life
by Kylene Casanova
Phil John, EMEA Treasury Director for MARS suggests what banks and corporates have to do to achieve nirvana
UK’s Open Banking Standard here by end of 2016
by Kylene Casanova
The Open Banking Working Group has recommended the creation of an Open Banking Standard that will make it possible for banking data to be shared and used securely.
Growing Bank Services Billing standards adoption by banks, suppliers & corporates
by Kylene Casanova
Newsletter shows that in last year there has been important progress in ISO 20022, TWIST, and AFP Global Service Codes usage and the benefits for corporates of BSB are now clear and growing
John Read, ex-Citi: “universal banking model is inherently unstable & unworkable”
by Kylene Casanova
“No amount of restructuring, management change or regulation is ever likely to change that.” Does this signal ever more turbulent times for big universal banking groups? How do corporates protect themselves?
Dutch lead way in Digital Identity with new bank initiative and government target
by Kylene Casanova
Banks announce pilots for early 2016 and government sets 2017 target for all transactions with citizens and businesses to be conducted electronically
For centralised corporate KYC: only Thomson Reuters Org ID Managed Service suits
by Kylene Casanova
Org ID achieves milestone of 10,000 KYC Records from financial Institutions, funds and corporations
Citi launches paperless account opening and full eBAM in North America
by Kylene Casanova
New features in the eBAM service include electronic submission of supporting documentation for account administration and signer management (Updated with figure)
Digital Identity services & ecosystem will be the key differentiator between banks
by Kylene Casanova
BofA Merrill’s Leavenworth explains his thinking on what banks do and why digital identity services are so critical in today’s digital age
A game-changer for bank-corporate connectivity?
by Kylene Casanova
Will corporates be able to programme their own interface with their banks in future? The intersection of banking and application programming interfaces (APIs) is an increasingly hot topic.
Know Your Customer (KYC) management in the day-to-day operations of a corporate treasury department
by Kylene Casanova
Steve Pulley, Global MD of Org ID at Thomson Reuters, describes dynamics of KYC, how corporates will be able to ask their banks to go to chosen provider to receive their KYC information, and future of KYC services
Usage of Managed Know Your Customer Services grows
by Kylene Casanova
Even major investment firms - Stifel Nicolaus and BlackRock - are signing up for Thomson Reuters Org ID Know Your Customer Managed Service
EPC clarifies use of electronic mandate signatures
by Kylene Casanova
How should creditors and debtors use electronic mandate solutions under the SEPA Direct Debit Schemes?
SWIFT’s KYC Registry has users in more than 100 countries
by Kylene Casanova
Banks are exchanging KYC data via service world-wide
Clarient Entity Hub: solution for client data, onboarding & lifecycle management
by Kylene Casanova
New industry initiative for financial market participants to standardize/centralize collection and distribution of client entity information. It’s KYC, FATCA & much more. Corporates will need to participate
Thomson Reuters successfully completes ISAE 3000 audit type 1 for its KYC service
by Kylene Casanova
First and only KYC service to successfully complete ISAE 3000 type 1 audit on the design suitability of its internal controls tied to transparency and the quality of its KYC managed services
SWIFT’s KYC Registry goes live for correspondent banks worldwide
by Kylene Casanova
New industry-owned utility provides secure exchange of KYC information, supporting transparency and compliance
eBAM is not dead. It is progressing slowly and in right direction
by Kylene Casanova
AFP conference reveals the stresses and strains as eBAM develops and usage grows
RBS new accelerated Client Onboarding: one 15 page interactive form + 2 signatures
by Kylene Casanova
Reduces paperwork by 75%: Replaces old system of 38 documents (86 pages) and 70 signatures with a single interactive form for opening accounts, setting up online banking and payments
AFP sign a license agreement to provide AFP Service Codes® to Hanse Orga
by Kylene Casanova
Global march of AFP bank service codes continues, very slowly
Six additional major banks join SWIFT’s KYC Registry initiative
by Kylene Casanova
Now 12 members which is largest known membership of planned KYC exchanges