AWDC Mem­bers Join GJEPC’s MyKYCBank Plat­form

Solitaire - - SPECTRUM -

The An­twerp World Di­a­mond Cen­tre (AWDC) and the Gem & Jew­ellery Ex­port Pro­mo­tion Coun­cil (GJEPC) have an­nounced they will join forces in rolling out an in­dus­try­wide Know-Your-Cus­tomer (KYC) ex­change plat­form, MyKYCBank.

The MyKYCBank plat­form, which had been launched by the GJEPC through an in­de­pen­dent sub­sidiary, pro­vides a cen­tralised plat­form for com­pa­nies in the in­dus­try to com­plete and man­age their KYC in line with global stan­dards. Users can eas­ily and quickly share their own KYC data among trade con­nec­tions as well as banks and other fi­nan­cial in­ter­me­di­aries.

Through the col­lab­o­ra­tion be­tween the two au­tho­rised in­dus­try bod­ies AWDC and GJEPC, MyKYCBank will en­com­pass the mem­bers of the world’s largest di­a­mond trade and man­u­fac­tur­ing com­mu­ni­ties, An­twerp and In­dia. The plat­form will be­come a pow­er­ful tool that can sig­nif­i­cantly re­duce com­pli­ance costs for users, bring greater trans­parency in the in­dus­try and build con­fi­dence of other stake­hold­ers in the in­dus­try, such as fi­nan­cial in­sti­tu­tions and gov­ern­ment.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.