Correspondent Banking

Correspondent Banking due diligence or KYC (CB-KYC) is a vital and particularly challenging business process. Equiniti KYC Solutions helps our Correspondent Banking clients better manage risk, reduce costs and increase revenues.

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.

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 Anti-Money Laundering (AML) checks and verifications leading to the eventual AML risk determination.

Equiniti KYC Solutions 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. They benefit from process efficiencies and economies of scale whilst relieving their employees of onerous administrative overhead. 

Equiniti KYC Solutions is uniquely positioned to help Correspondent Banking firms to manage risk more effectively, significantly reduce costs and re-focus their time and efforts on customer facing and revenue generating activities.