CanDeal partners with five Canadian banks to deliver KYC solution

Tuesday 28 June 2022 14:54 CET | News

CanDeal, an operator of Canadian market and infrastructure services, has partnered with five of Canada's largest domestic banks to deliver a Know Your Client (KYC) solution to the Capital Markets Industry.

The landmark collaboration mutualises many of the costs and efforts of complying with KYC requirements and The Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and delivers operational efficiencies.

The move by The Bank of Montreal, The Bank of Nova Scotia (Scotiabank), The Canadian Imperial Bank of Commerce, The National Bank of Canada, and The Royal Bank of Canada creates a common data and regulatory experience for the industry, building trust in the data for use in risk assessments, as well as streamlining KYC compliance for clients.

CanDeal is a provider of electronic marketplaces and data services for Canadian dollar debt securities and derivatives. CanDeal Data & Analytics (CanDeal DNA) provides dealer-sourced pricing to monitor and understand fixed income and derivatives market exposure. CanDeal Markets delivers Canadian institutional investors with electronic access to liquidity in non-Canadian debt and derivative marketplaces. 

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Keywords: banks, partnership, KYC, central bank, money laundering
Categories: Fraud & Financial Crime
Companies: CanDeal
Countries: Canada
This article is part of category

Fraud & Financial Crime


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