Up until three years ago, the concept of Know Your Client (KYC) utilities struck a chord with capital markets firms across the global financial services industry. However, multiple utilities with little crossover and slow momentum stalled their development into a viable technology and business model.
Regulatory compliance remains onerous, being heavily dependent on the collection, processing and management of client and counterparty data, documentation and agreements to comply with local and global anti-money laundering (AML), KYC, regulatory and tax-compliance processes. This impinges on the cost of compliance, client-onboarding times and the overall client experience.
Now with blockchain on the immediate banking horizon, there is an opportunity to see how distributed-ledger technologies can revolutionize KYC utilities.
Fenergo’s recent webinar with WatersTech provided a number of interesting insights on the critical success factors for blockchain-based KYC utilities.
Download our post-webinar report to learn:
- The specific technology and operational benefits that KYC utilities offer capital markets firms;
- The lessons learned from the initial foray into KYC utilities;
- The features and benefits of the centralized and decentralized models for KYC utilities, and the best options for banks;
- The critical success factors required for KYC utilities to gain industry traction.
Download The Playback Link:
This webinar features experts from the financial services industry, as well as technologists and KYC utilities and explores specific technology and operational benefits that KYC utilities offer capital markets firms.