Commerzbank to Give Front Office Increased Responsibility for Counterparty Data

LONDON—Frankfurt-based Commerzbank has changed its counterparty data operations, moving more responsibility from compliance to the front office, according to a panellist at the European Financial Information Summit in London in October.

Increased focus on regulation and Know Your Customer (KYC) resulted in the bank changing its account-opening process, giving more data work to the front office to ensure sales people have relevant details about their clients. Previously, the front office asked com