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SIX selects KYC platform to assess supplier risk

SIX Group has selected regtech provider Know Your Customer to strengthen its procurement process and better assess the risk associated with its international suppliers.

SIX Group is the fintech organisation operating the Swiss Stock Exchange and providing the overall infrastructure for the Swiss financial centre. Controlled by an association of banks, the Swiss Stock Exchange history of technological innovation dates back to becoming the first stock exchange in the world to incorporate a fully automated trading, clearing and settlement system in 1995.

By using Know Your Customer’s due diligence platform, SIX Group is looking to increase the accuracy of its risk calculations on suppliers that provide services and products to companies that are members of the Swiss exchange eco-system. The Know Your Customer platform - which provides direct connection to official company registries and instant identification of Ultimate Beneficial Owners (UBOs) - should enable SIX Group to quickly and accurately investigate the company structure of all its existing and prospective suppliers, further reducing the risk related to money laundering and financing of terrorism.

Established in 2015, Know Your Customer provides digital solutions for anti-money laundering (AML) and know your customer (KYC) compliance to financial institutions and regulated organisations around the world.

“While not all business units are mandated by regulations, on-going due diligence on all suppliers within our eco-system is a key priority for us,” said Nicolas Berger, head of Supplier Risk Management at SIX Group. “Partnering with Know Your Customer is an important step in our overall strategy of innovative technology adoption to reduce risks related to money laundering and terrorism financing within the SIX Group network.”


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