Utility

1.

An economic measure of satisfaction gained from consumption of goods or services.

Sometimes quantified in 'utils'.

2.

A firm providing necessity goods and services, such as water supplies.

3. Financial institutions - know your customer (KYC).

A KYC utility.

KYC evolving

"The world of cash management and payments is evolving in response to... technological advances.

Treasurers might want to consider solutions such as... the launch of various utility products for KYC management."

Michelle Price, associate policy and technical director, Association of Corporate Treasurers, The Treasurer, August 2018, p24.

See also