Streamlining a Global KYC Function - Elusive or Achievable?

NEW YORK, January 11, 2011 - Streamlining KYC for Global Financial Institutions is possible with some
structured thinking and utilizing a holistic approach, says a new white paper
published by eClerx, a premier Financial Services Outsourcing and Consulting
firm based in India with offices in Europe and the USA.

    KYC has become a focus function due to:
    -- Increased regulatory pressure, with regulators requiring
       ever-tightening control;
    -- Lowered risk appetite, requiring better understanding of
       counterparties, their taxonomy and corresponding collateral exposure;
    -- Business needs requiring faster turnarounds with lower costs
       in an environment of tightening margins.

Some of the key challenges that eClerx has seen adversely impact KYC are
duplication of effort; over-diligence due to lack of clarity over
requirements; violation of rules due to poor training, poor enforcement, or
simply indiscretions on part of front office staff; poor internal and
external interfacing resulting from inconsistent standards and ineffective
tooling of processes.

The eClerx KYC whitepaper offers a framework to tackle the aforementioned
issues, based on eClerx's experience gathered at a number of large
Broker-Dealers worldwide. It can be downloaded by clicking here
(www.eclerx.com/KYC).

eClerx has a long and successful history as a Capital Markets and
Investment Management Consulting and Outsourcing Company. Providing core and
critical processes plus professional services to major global banks, eClerx
also services prime brokers, asset managers, reinsurers, wealth managers and
hedge funds. It regularly releases white papers on industry relevant topics;
it's reachable by clicking here (www.eclerx.com/contact).

Caroline Sumnall, +44-207-529-6010, caroline.sumnall at eclerx.com