SWIFT Business Forum

Frankfurt 2015

The KYC Registry – free to use in 2015

Julien Laurent, KYC/AML specialist, SWIFT

Frankfurt, 22 April 2015

The KYC Registry: Stronger together as a Community

Pricing: 2015

In 2015 during the initial launching phase of the new platform it will be free for most user

• We have 2 free offers to enable your bank to trial and get used to the product

– The first offer is free consumption access for 6 months if you contribute your and associated

entities data

– The second offer is the possibility to obtain the remaining of 2015 free as well if your

organisation agree to actively promote the Registry to your network of FI correspondents

• Contributing your own data is always free

Pricing: in 2016

In 2016 once the platform has reached critical mass we will start charging for access to information

as follows:

• The contribution will always be free.

• The product is priced on an actual consumption basis; when your entity accesses another

entity’s data, the total cost is 120 EUR per calendar year no matter how many users at your bank

access the information.

• Additionally, in the spirit of community, there is a cap on the maximum amount invoiced which is

based on the size of your institution on the Swift network.

• The caps vary from €3,000 to €180,000 for the largest entities. With an estimated 81% of our

members in the €3,000 cap range, this is a true community service.

• Once you reach your cap you will still be able to access data but at no extra cost.

We have a system that is live and focused on the largest number of connected Correspondent Banks in

the world.

We have established a thorough KYC standard set of documents and data

The standard addresses CDD as well as the hard-to-acquire EDD data elements

We are not an outsourced utility, we are hosting and providing secure access to data.

We are a community-owned not-for-profit organization

We validate and verify declared documentation before publishing it

We host our data and are relied upon to connect financial institutions allowing them to do business around

the world

We are unique in providing the SWIFT Profile which affords greater transparency on your wider

Correspondent Network and address the non-obvious risk of ‘KYCC’

In summary: how are we different to other FI KYC vendors?