Bankers Almanac: Due Diligence

Bankers Almanac: Due Diligence is a single, central source of primary documents to support you in conducting due diligence checks on your correspondent counterparties.

Bankers Almanac: Due Diligence can be used individually or in combination with Bankers Almanac: Counterparty KYC, to further enhance your KYC activities with immediate access to vital banking intelligence, including ownership and AML policy documents and procedures.

With the comprehensive intelligence provided by Bankers Almanac: Due Diligence, you can:

  • Reduce your compliance burden with quick and easy access to the documentation you need
  • Monitor changes to your correspondent banking portfolio’s documents
  • Reduce the time you take to on-board new bank counterparties
  • Improve the efficiency of your counterparty reviews

Bankers Almanac takes a proactive approach to maintaining relationships with submitting banks. By keeping in regular communication with named points of contact, we ensure the accurate and timely collection of the data and documents needed to fulfil your KYC due diligence requirements. By subscribing to Bankers Almanac: Due Diligence you receive trusted KYC information that is actively researched and only accessible once it has been confirmed. The documentation is easily downloadable to support your audit requirements, meaning your staff can focus on making decisions instead of wasting time with manual enquiries.

Developed in association with the Wolfsberg Group*, the documentation held in Bankers Almanac: Due Diligence is gathered directly from the financial institutions themselves, central banks and regulators to provide a comprehensive repository of primary source documentation.

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Benefits of Bankers Almanac Due Diligence

Bankers Almanac Due Diligence | Checks on correspondent counterparties

Our dedicated team of 140 data analysts, operating in 20 languages, use their expertise to actively research, expand and maintain our records. Focusing not only annual updates, they continuously monitor the industry for corporate actions such as mergers and acquisitions and proactively request new or updated documents to ensure the accuracy of the content we provide.

Bankers Almanac: Due Diligence offers more than 730,000 completed and date stamped KYC documents, including:

  • Licences – general, banks and offshore
  • Corporate governance documents
  • Anti-money laundering controls
  • US PATRIOT Act certificates
  • Foreign Account Tax Compliance Act (FATCA) documentation
  • Annual reports

The service also includes the latest version of the Wolfsberg Group Correspondent Banking Due Diligence Questionnaire (CBDDQ), the enhanced industry standard in financial counterparty KYC.

The Wolfsberg Group

*The Wolfsberg Group consists of the following leading international financial institutions: Banco Santander, Bank of America, Barclays, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JP Morgan Chase, MUFG Bank, Société Générale, Standard Chartered Bank, and UBS. The Group aims to develop financial services industry standards and related products, for Know Your Customer, Anti-Money Laundering and Counter Terrorist Financing policies.