16 July 2018
Visit www.gemalto.com

Bankers Almanac adds online document verification to due diligence repository

18 August 2009  |  3049 views  |  0 Source: Bankers Almanac

Bankers Almanac, the leading provider of reference data for payments, due diligence and risk assessment today announced that its Due Diligence Repository now has online document verification.

The new "Manage My Documents" feature allows providers of the documents to review, confirm or supply replacements online into the Due Diligence Repository. It increases the speed at which compliance personnel at banks can update their own documents in the Due Diligence Repository. All documents have to meet Bankersalmanac.com's strict quality control criteria before they are published on the Due Diligence Repository, to reduce the need for banks to re-check information.

The Due Diligence Repository was launched by Bankers Almanac in 2004, in association with the Wolfsberg Group, to provide the primary information required to conduct due diligence checks on bank counterparties. Containing copies of banks' key documents including licences, articles of association, anti-money laundering controls, USA PATRIOT Act Certification, annual reports and the Wolfsberg Group Anti-Money Laundering Questionnaire, the Due Diligence Repository has become the global industry standard, reducing the burden that banks face when conducting Know Your Customer (KYC) assessments on their counterparties.

Commenting on the development, Kerry Hewson, Director of Bankers Almanac, said: "The launch of the "Manage My Documents" feature within the Due Diligence Repository will provide a considerably more efficient way for banks to review and update their documents. This ultimately benefits the industry as a whole by ensuring all departments within banks that use the Due Diligence Repository, such as compliance, Anti-Money Laundering or correspondent banking, have access to the very latest documents available."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related company information

Bankersalmanac.com

Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdVisit info.nice.comVisit www.aciworldwide.com

Top topics

Most viewed Most shared
Handelsbanken trials micro contactless cardsHandelsbanken trials micro contactless car...
9953 views comments | 19 tweets | 30 linkedin
Championing financial inclusion and helping the UnstoppablesChampioning financial inclusion and helpin...
8425 views comments | 3 tweets | 1 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
8092 views comments | 6 tweets | 14 linkedin
Faster Payments outage delays thousands of transactionsFaster Payments outage delays thousands of...
7198 views comments | 8 tweets | 19 linkedin

Featured job

Find your next job