Bankers Almanac Launches Online Document Verification for its Due Diligence Repository

LONDON - Bankers Almanac, the leading provider of reference data for payments, due diligence and risk assessment today announced that its Due Diligence Repository (www.bankersalmanac.com/addcon/products/due-diligence-repository.aspx) now has online document verification.

The new “Manage My Documents” feature allows providers of the documents to review, confirm or supply replacements online into the Due Diligence Repository. It increases the speed at which compliance personnel at banks can update their own documents in the Due Diligence Repository. All documents have to meet Bankersalmanac.com’s strict quality control criteria before they are published on the Due Diligence Repository, to reduce the need for banks to re-check information.

The Due Diligence Repository was launched by Bankers Almanac in 2004, in association with the Wolfsberg Group, to provide the primary information required to conduct due diligence checks on bank (www.bankersalmanac.com/addcon/infobank/bank-rankings.aspx) counterparties. Containing copies of banks’ key documents including licences, articles of association, anti-money laundering controls, USA PATRIOT Act Certification, annual reports and the Wolfsberg Group Anti-Money Laundering Questionnaire, the Due Diligence Repository has become the global industry standard, reducing the burden that banks face when conducting Know Your Customer (KYC) assessments on their counterparties.

Commenting on the development, Kerry Hewson, Director of Bankers Almanac, said: “The launch of the “Manage My Documents” feature within the Due Diligence Repository will provide a considerably more efficient way for banks to review and update their documents. This ultimately benefits the industry as a whole by ensuring all departments within banks that use the Due Diligence Repository, such as compliance, Anti-Money Laundering or correspondent banking, have access to the very latest documents available.”

About Bankers Almanac

Bankers Almanac is the leading source of intelligent reference data for payments, compliance and risk assessment. For over 160 years it has been a single point of reference for global bank information. Its Due Diligence Repository contains primary data required by banks, to conduct compliance checks on their counterparties.

Bankers Almanac is proud to partner some of the most influential financial associations and continues to evolve its reference data solutions to meet the needs of the industry. With offices in Europe, Asia and USA, Bankers Almanac is in continuous contact with banks and regulatory authorities to provide up-to-date, verified data that can be consistently relied upon.

All press enquiries to: Jane Sutton, Marketing Manager +44(0)1342-335-932 Email: marketing@bankersalmanac.com

Source: Bankers Almanac

All press enquiries to: Jane Sutton, Marketing Manager, +44(0)1342-335-932, Email: marketing at bankersalmanac.com