Swift plans push into KYC for corporates and banks

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Luc Meurant, Swift

The Brussels-based interbank payment processing provider Swift has launched a know-your-customer (KYC) service for banks, and plans to expand this to cover non-bank institutions as well. Luc Meurant, the newly appointed head of banking markets and compliance services at Swift, says the service will initially focus on KYC for correspondent banks, as this was the simplest – and also in greatest demand – but that it will be expanded, potentially covering corporate clients as well. "W

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