Bank joins thousands signed up to two-year-old service for know-your-customer information
Kyc.com, the joint venture between IHS Markit and Genpact, has announced that Bank of Montreal has signed on to the service to streamline the collection and management of know-your-customer information.
Kyc.com standardizes and centralizes operations around client onboarding and due diligence. Ten of the top Group of 14 dealers are subscribers of the service and more than 2,000 buy-side firms and corporations, representing 83,000 legal entities, are now using kyc.com.
Michele Trogni, executive vice-president of consolidated markets and solutions for IHS Markit, says: "Since we launched in 2014, there have been a number of new entrants vying for market share. We are delighted to add Bank of Montreal and we attribute this win to the agility of our service that addresses multiple challenges across KYC, AML, tax, regulation and legal and credit agreements."
Kyc.com was originally founded in 2014 and designed in partnership with Citi, Deutsche Bank, HSBC and Morgan Stanley. Additional G14 institutions on the service include BNP Paribas and UBS, with Standard Chartered in the process of signing up.
WatersTechnology attended the Futures Industry Association's annual conference in Boca Raton, Florida. These are the takeaways.Subscribe to Weekly Wrap emails
- The Insurgents: Fintechs Are Knocking Off Incumbents
- CFTC Commissioners Lash Out at EC Clearing Proposals
- Waters Wavelength Podcast Episode 113: IBM's Lund on Blockchain's Evolution
- Wrestling Over Competing Mifid II, GDPR Data Demands
- MarketAxess Banks on Asian Electronic Markets with BlackRock Partnership