Although treasurers are preoccupied with the effects of the Covid-19 pandemic, everyday challenges still have to be met. With the average global treasury team reportedly spending more than one day each week dealing with know your customer (KYC) requirements, compliance remains a significant pain point for treasurers worldwide.
Currency volatility in Africa is being fuelled by unprecedented economic shifts in global markets. Given that most African economies have fragile economic fundamentals, weak growth and high fiscal risks could hinder their ability to benefit from the currently on-going global rate cutting cycle.
Complying with the know your customer (KYC) aspect of bank account opening and management has long been a burden for corporate treasurers. For Pepper Group, early access to SWIFT’s KYC Registry has helped bring a number of efficiencies to this process.