Bank of Montreal signs for Kyc.com service
Bank of Montreal has signed onto Kyc.com’s service to streamline the collection and management of KYC (Know Your Customer) information.
Kyc.com, a joint venture between IHS Markit and Genpact, says it standardises and centralises operations around client onboarding and due diligence.
Michele Trogni, executive vice-president, consolidated markets and solutions for IHS Markit, says the addition of the bank to the service, as well as the recent deal with US investment management firm Pimco, are “testament to the strength of our offering”.
Kyc.com adds that ten of the “top” G14 dealers are subscribers. Over 2,000 buy-side firms and corporations, representing 83,000 legal entities, are now using Kyc.com.
Earlier this year, Kyc.com expanded to Hong Kong and Singapore. This roll out was in addition to jurisdictional coverage in the US, UK and Australia.
The firm was 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”.