1. Nordic Regional Conference
The KYC Registry
Alex Delaey
March 2015

2. Objectives
• Introduce the KYC Registry concepts
• Give an experience of the tool through a demo
• Share practical information
• Collect your feedback

4. Today’s market: An unprecedented challenge to
comply with KYC requirements
• Pressure to reconcile & ‘de-risk’
• Exploding AML/KYC fines
• KYC complexity (FATF/FATCA) and
inconsistencies across jurisdictions
• Cumbersome, repetitive and inefficient bilateral
exchanges
• Unavailability and poor quality of information
As a result the industry has witnessed a new development, the growth of the KYC ‘utility’
The Cost of KYC is becoming prohibitive

5. The KYC Registry: Your single source of KYC data
• Single Standard for KYC requirements
• Trusted 3rd party to validate & store
data with built-in access and entitlements
• Unique content: SWIFT Profile, EDD
data
• 7,000+ banks on SWIFT 1.3M+
connections
KYC
Utility

6. The KYC Registry - A clear global standard
• A clear and transparent standard of KYC data and documents as agreed & endorsed by the
industry working group:
 Identification of the customer
 Ownership and Management structure Ultimate beneficiary
 Type of business and client base Revenue source/ Customers
 Compliance Information Enhanced AML overview
 Tax information FATCA
• A data set that meets Customer & Enhanced Due Diligence (EDD) requirements
• Core AML & Corporate Governance documents included as standard;
 Wolfsberg/AML Questionnaire, USA PATRIOT Act Certs, Bank licenses, Certificates of Incorporation, MA/AA,
Annual Reports, Statutes & Charters, AML Controls, Group Structure and Ownership, Director & shareholder
Identity documents
• Constantly re-evaluated and evolved to meet the most exacting requirements

7. Validation - Rely on thoroughly validated information
• Transparency about what is & isn’t validated
• Fact-based checks on completeness, validity, accuracy, language and format
• Coherence checks between documents
• No judgmental or subjective checks (e.g. veracity of AML-related questions)
SWIFT publishes the information only if qualification requirements are met

8. The KYC Registry platform: rich in features to save time
and cost in managing your KYC data…
• Portfolio Management to help you track your own
institution’s data and those of your counterparties
• Task Management to help you track content
access requests, update requests
• Sharing settings so you control who can and
cannot access your data
• Group upload options to auto-populate multiple
entities with identical docs
• Access through web portal so no IT integration or
customisation required.
• Intuitive and easy to use to avoid lengthy training
regimes.

9. Know Your Customer’s Customers: SWIFT Profile
9
PURPOSE
Bring transparency on whether your correspondent has
established relationships in sanctioned or FATF high risk
jurisdictions
APPROACH
• Optional: ordered and shared at the discretion of the
publishing bank
• Refreshed on a quarterly basis
• Available for Payments and Trade Finance
• Does not contain competitive information (absolute
values or volumes)
KEY BENEFITS
• Provides unique insights into your correspondent’s
activity, based on data otherwise inaccessible to you
• Substantiates the declared behaviour by relying on data
provided by a neutral third party
• Promotes a pro-active approach in the assessment of
existing relationships and fosters continuous monitoring
of exposure

10. So... How does it look like?

11. The KYC Registry: promoting collaboration and
driving community engagement..
 7,000+ banks representing > 1.3 million relationships already connected to SWIFT
 SWIFT is trusted with the security and transit of the world’s GDP in messages
 SWIFT is a member-owned not-for-profit cooperative with clear industry oversight
 The Working Group of 12 of the world’s largest banks have committed to the Registry

12. 12
The KYC Registry after 3 months
40+
70+
160+

13. In a nutshell…
• We offer a standardised set of data for KYC documentation, formed with 12 of the largest
global banks, for the banks.
• We validate and verify declared documentation before publishing it
• The KYC Registry addresses CDD as well as the hard to acquire EDD data elements
• We are not an outsourced utility, we are hosting and providing secure access to data.
• We offer the SWIFT Profile, allowing you to get greater transparency on your wider
Correspondent Network and address the non-obvious risk of ‘KYCC’
• We are a community-owned not-for-profit organisation with ethical product pricing

14. Join the KYC Registry
• Share your KYC data at no cost
• Pay only for the data you need
• Benefit from the 2015 launch offering
• Getting activated on the Registry is 5-clicks away
14

15. KYC Registry ambition for 2015
• Foster community adoption by collecting a critical mass of data
in the first year of commercial availability
• Collaborate with community leaders to initiate change, lead by
example and encourage their counterparties to join the Registry
• Bring immediate value by on-boarding higher risk and WG high
priority jurisdictions through community deals

16. Questions

17. Thank you!