Know-your-customer project hits speed bump
The shared utility by MAS, designed to smoothen verification process, faces cost issues
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Singapore
THE Monetary Authority of Singapore (MAS) has hit a snag with its proposed centralised know-your-customer (KYC) utility that it had hoped to launch this year.
The shared KYC utility was meant to allow financial institutions to identify and verify potential customers' details in a more seamless way.
