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SIX Group selects Know Your Customer to strengthen supplier due diligence

Thursday 5 March 2020 10:27 CET | News

SIX Group has selected regtech provider Know Your Customer to strengthen its procurement process and better assess the risk associated with its international suppliers.

SIX Group is the fintech organisation operating the Swiss Stock Exchange and providing the overall infrastructure for the Swiss financial centre.

By utilising Know Your Customer’s due diligence platform, SIX Group is looking to increase the accuracy of its risk calculations on suppliers that provide services and products to companies that are members of the Swiss exchange ecosystem. The Know Your Customer platform – which provides direct connection to official company registries and instant identification of Ultimate Beneficial Owners (UBOs) – will enable SIX Group to investigate the company structure of all its existing and prospective suppliers, further reducing the risk related to money laundering and financing of terrorism.

Established in 2015, Know Your Customer provides digital solutions for anti-money laundering (AML) and know your customer (KYC) compliance to financial institutions and regulated organisations around the world. By centralising the KYC/AML process for all client types within one solution, Know Your Customer strengthens compliance, reduces costs and delivers onboarding experiences to both individuals and corporate entities.


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Keywords: SIX Group, Know Your Customer, suppliers, due diligence, regtech, fintech, money laundering, financing , KYC
Categories: Fraud & Financial Crime
Companies:
Countries: Switzerland
This article is part of category

Fraud & Financial Crime






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