Six G14 dealers implement Markit | Genpact KYC Services
Markit | Genpact KYC Services, the joint venture between Markit and Genpact have announced that six G14 dealers are among the global banking institutions implementing its centralised service that streamlines the collection and management of know your customer (KYC) information.
The dealers actively looking to implement the service are BNP Paribas, Citi, Deutsche Bank, HSBC, Morgan Stanley and UBS.
Markit | Genpact KYC Services allows clients to upload KYC information to KYC.com and manage the document maintenance and review process. Through the platform, bank subscribers will also be able to access other services related to client onboarding including process transformation, analytics, client classification and tracking services.
David Burnett, chief operating officer, global banking and markets at HSBC, said: “The quality of the client profiles we will receive from Markit | Genpact will meet our high standard for onboarding and help us satisfy regulatory requirements involving know your customer data. The service will enable us to be more efficient, go to market with clients faster and benefit from greater confidence in the information we use for compliance.”
Daniel Haid, head of client onboarding and account maintenance at UBS, said: “The Markit | Genpact offering creates a multitude of efficiencies in KYC due diligence processes. The convergence to and adoption of a standard approach by industry participants to KYC will help us fulfil our commitments to upholding the highest standards as relates to anti-money laundering and KYC.”
Jon May, chief executive officer of Markit | Genpact KYC Services, said: “Support from these global banks allows us to drive a high common standard for KYC information throughout the industry. The quality of data and services provided by our KYC ecosystem is a key enabler for banks as they industrialise their operations in response to regulatory and cost pressures.”
Source: automatedtrader – Six G14 dealers implement Markit | Genpact KYC Services
