An online platform, The ID register, has been developed in Guernsey with the hope of making the ‘know your client’ (KYC) process faster, easier and cost effective.

Allowing users to create a KYC profile and share it, The ID Register is backed by fund administrator Ipes and responds to the changing regulatory KYC requirements. The UK FCA said that “in order to enable effective competition and promote innovation, it is important that technologies help firms better manage regulatory requirements and reduce compliance costs are sup...