Risk Management
Published  3 MIN READ

KYC Pain Relief

Pepper Group Leverages SWIFT’s KYC Registry to Redefine the Customer ID Experience


Best KYC Solution 

For Australia-headquartered residential and commercial property credit provider Pepper Group, know your customer (KYC) management had always been a pain point. With a variety of lending businesses in countries throughout Asia and Europe, the company engages around 30 different banking partners globally. Keeping on top of KYC requirements has always proven to be time-consuming.

With banks in different jurisdictions having disparate KYC requirements, Jimmy Zhang, Corporate Banking Manager, Pepper Financial Services Group, says the lack of standardisation – even within the same banking group – can be “extremely challenging”.

The TMI judges know, from their conversations with corporates over the years, that standardisation of KYC procedures among banks would save all stakeholders significant time and effort. When Zhang discovered that SWIFT was opening up its KYC Registry to corporates connected to SWIFT – the solution having previously been available only to banks – he said that he jumped at the chance to be part of the working group. Indeed, by collaborating with peers in this way, he knew he had a perfect opportunity to help steer the registry’s development for corporates.