Reducing operational costs of customer due diligence
Customer due diligence is a costly exercise for banks, as they need to employ teams to on-board customers, investigate false positives and conduct manual checks. Swift’s portfolio of cloud-based solutions have been built to help reduce the administrative burden across the due diligence process.
Identify:Swift’s KYC registryprovides a safe and secure platform for customers of the bank to provide KYC information and sets out common standards for information collection and management.
Screen:Swift’s screening servicessupport the screening of entities against sanctions, PEPS and adverse media.
Monitor:Swift’s sanctions screening servicesenable banks to monitor cross border payments for sanctions risk.
As the global provider of payments and financial crime compliance solutions to the financial industry, we work with over 11,000 institutions worldwide to deliver innovative solutions in the customer due diligence space.
