Solving the KYC conundrum

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Drawing on the opinions of over 200 corporate treasurers, this white paper delves into the difficulties faced as a result of KYC requests and explores their impact.

For some treasurers, dealing with KYC requests is a daily activity tying up as many as two or three full time employees (FTEs). Meanwhile, internal policies can make it difficult or impossible for treasurers to provide all the information banks request. These concerns are also having a significant impact on corporate bank relationships. Some treasurers are actively avoiding working with banks known to have particularly onerous KYC processes, while others are restricting the number of banks they work with. Drawing on discussions with numerous treasurers around the world and a survey of over 200 corporate treasurers, this white paper delves into the difficulties treasury teams face as a result of KYC requests and explores the impact on their operations and banking relationships.

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