Would it be a fair statement that there are technologies out there, such as ISX Paydentity, that solves this cross border KYC issue regarding AML/CFT, but banks are not willing to embrace it.
The general look and feel is that banks are just putting it in the too hard basket and giving up the sector, rather than relying on robust KYC methods to retain their business.
Summary of Issues and Rationale for continued support of ISX, page-211
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