KYC Data Utility Managers: "It's Compliance that Needs Convincing"

Internal teams' concerns around data security hinders adoption, Sibos attendees told

David Howes, deputy head, group financial crime compliance, Standard Chartered Bank

Internal compliance teams are the ones that need convincing when it comes to embracing utilities, according to David Scola, global head of coverage at Barclays. 

Scola was speaking at a session titled "Utilties: A Year On" at the Sibos conference currently under way in Singapore.

Third-party shared services for storing KYC reference data are about two years old, and the panel was focusing on the Swift KYC Registry in this early phase of its development.

Concerns about data privacy and security

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