Financial data outfit Markit and BPO firm Genpact have launched a service designed to help firms manage client onboarding and other know-your-customer requirements.
So how many KYC registries are we going to have? Will each bank have its own preferred/ recommended registry? Does that mean that- as a corporation- I will have to register to as many registries my different banks have adhered to?
I suspect we will be soon reading about the "spaghetti mess" of the many KYC registries that will have sprouted in the course of time. The solution? Possibly a "registry of registries"... not a bright perspective in front of us.
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