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January 23, 2014

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Ben Knieff

This is so spot on Chris, the last one was great too. Years ago I experienced the same challenges attempting to build a product for this purpose and thus it went nowhere.

It would seem there are a number of ways institutions could manage such risks, but it would also seem the regulators would need to get on board to at least some degree. And who really wants to be the first test pilot for that?

As such, I'm a bit surprised some banks haven't come up with a way to "re-sell" the effort they put in to KYC to others need it (maybe not for regulatory reasons per se, but need to know real identities).

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