Nonbanks, Systemic Risks Highlight Need for ‘Know Your Business’ Due Diligence
For banks, forging partnerships with nonbanks and FinTechs has been a key way to capitalize on growth opportunities in private credit. But the increasing connectedness between traditional financial players and these new partners underscores the need for additional due diligence, and for tech-enabled, robust “know your business” (KYB) protocols. Generally speaking, KYB entails the verification […]
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