Sibos: KYC data utility managers report compliance barriers
Know-your-customer data executives from Barclays and Standard Chartered tell Sibos audiences that adoption of the Swift KYC registry requires persuading their compliance teams of its capability and value
Internal compliance teams are the ones that need convincing when it comes to embracing utilities, according to David Scola, global head of coverage at Barclays.
Scola was speaking at a session titled "Utilties: a year on" at the Sibos conference currently under way in Singapore.
Third-party shared services for storing KYC reference data are about two years old, and the panel was focusing on the Swift KYC Registry in this early phase of its development.
Concerns about data privacy and security
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