GLOBAL TRADE view

Conduct a thorough assessment of the customer's identity, business, industry, and financial requirements. Know Your Customer (KYC) is a critical process for banks to identify, verify, and record the identity of their customers. §   Internal Sources Account Opening Information: Personal or Corporate Information: Collect detailed information about the customer's identity, address, occupation, and business activities. Supporting Documents: Verify the authenticity of documents such as identification cards, passports, proof of address, and business registration certificates. Source of Funds: Inquire about the source of funds and obtain supporting documentation. Beneficial Ownership: Identify the ultimate beneficial owner(s) of the account and collect necessary information. 2.       Credit History: Internal Records: Review the customer's credit history within...

  Trade finance can be a powerful tool to attract and retain customers, especially those involved in international trade. By strategically bundling it with other loan products, banks can enhance customer value, increase revenue, and strengthen their market position. Here are some key strategies to consider: 1. Identify the customer Conduct a thorough assessment of the customer's identity, business, industry, and financial requirements. Know Your Customer (KYC) is a critical process for banks to identify, verify, and record the identity of their customers. §   Internal Sources -       Account Opening Information -       Credit History -       Pattern of Product Utilization §   External Sources -       Company Registration Websites -       Regulatory Reports -       Company Websites -    ...