Kyckr , a provider of technology solutions to help protect against money laundering, fraud and tax evasion, has landed a global payments provider as a new client.
Through the deal, the RegTech will provide its Know Your Customer (KYC) onboarding services to the client, the name of which has not been disclosed “due to the critical services provided by Kyckr to [the] client for KYC on-boarding services.”
The client will pay an annual fee of $150,000 for Kyckr’s corporate customer validation and verification services, which help improve KYC compliance-related obligations.
David Cassidy, Kyckr managing director, said: “We are delighted to be providing our solution to one of the leading global payments providers. Our services demonstrate the relevance of our capabilities in multiple sectors, helping improve customer on-boarding, bringing about operational efficiencies and improved KYC compliance.”
Kyckr provides data and technology solutions to accelerate customer acquisition and protect against money laundering, fraud and tax evasion. Its solutions are connected to over 180 regulated primary sources, in over 120 countries, providing real-time company registry information on over an estimated 80 million businesses globally. The company’s clients include HSBC, Deutshce Bank, Bank of America, BNP Paribas, Danske Bank, and JP Morgan, among others.
Last month, the company bought in global banking executive Benny Higgins as non-executive chair. Higgins, the current CEO of Tesco Bank, group strategy director for Tesco and member of the Tesco executive committee, will start the new role in March 2018.
The deal Kyckr raised about AUS$5m (€3.4m) after listing on the Australian Securities Exchange (ASX) in Sydney.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
