The SWIFT KYC Registry for corporates is a new central repository for standardised KYC information that will address current inefficiencies. It provides a secure self-service repository, simplifying the way that multi-banked corporates exchange and maintain their KYC due diligence details with their banks.
Andy Gage, FiREapps, discusses how developing an effective currency risk management committee, by gathering departments from across a business, can ensure a robust FX programme - whilst also strengthening inter-department relationships between stakeholders.
Despite the many challenges, treasurers should remember that the stringent requirements may have a silver lining. Regulatory compliance may provide the opportunity for companies to become more transparent and make their internal processes more effective and efficient.
The recent cyber breach of five firms in Mexico and the USD15m exploitation of connections to the SPEI domestic payment system have placed a spotlight on Latin American cybersecurity. How can corporates and their treasuries prevent this sort of breach becoming commonplace?