Progress Report: KYC Utilities 18 Months On

Benefits are emerging from the efforts of four well-known service providers to launch KYC data facilities

Frantz Teissedre, Head of Interbank Relations, Societe Generale

The demands on banks to comply with know-your-customer (KYC) and anti-money-laundering initiatives are not easing, so it's not surprising that KYC and its attendant challenges are big on the agenda at the Sibos conference this year.

At least one panel at the massive event in Singapore next month will ask: "Are utilities delivering the sought-for gains in efficiency and cost savings, and ameliorating the pain of KYC and customer due diligence (CDD)?"

Within the past two years, several providers h

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