KYCnet - we know your customer

Correspondent Banking relationships are vulnerable to money laundering and terrorism financing because they involve a bank carrying out financial transactions on behalf of another bank’s customers.

Correspondent Banking due diligence or KYC (CB-KYC) is a vital and particularly challenging business process.

However, CB-KYC is a time-consuming and largely manual process that requires the attention of experienced analysts in the desk-based research, sifting, review and recording of Correspondent Bank questionnaires and  policies and the performance of other AML checks and verifications (and evidence-of-check) leading to the eventual AML risk determination.

KYCnet helps our Correspondent Banking clients better manage risk, reduce costs and increase revenues.

Our clients leverage industry best practices in meeting their regulatory and business risk management requirements, enjoy process efficiencies and economies of scale cost savings while relieving their staff of burdensome administrative overhead, freeing-up time for more customer facing and revenue generating activities.

We are confident in saying that our service offerings are uniquely positioned to help firms better manage risk, reduce costs significantly and re-focus their time and efforts on revenue generating activities.