RegTech 100 company Know Your Customer has launched its new AML / KYC product suite.
The smart technology client verification solution provider said it will launch Identify by KYC, which automates KYC /AML screening for individual customers, Full Onboarding by KYC, which provides end-to-end onboarding for digital-first organisations, and Corporate Validate by KYC.
Corporate Validate provides organisations with an end-to-end virtual compliance desk to centralise all their AML/KYC activities. Compliance teams can upload hundreds of customer lists through an automated import portal, and they can request all relevant onboarding documents from their clients, who can quickly upload them through a dedicated mobile app or web portal.
The platform automatically integrates with official company registries from all over the world, instantly downloading KYC relevant information, identifying ultimate beneficial owners (UBOs) and building complex corporate ownership structure charts in minute.
With financial crime more prevalent than ever, compliance personnel facing ever-more-demanding workloads, and client on-boarding times are increasing; compliance teams need technological tools to quickly and reliably automate many processes which are still being done manually according to the company.
KYC claims its digital solutions ‘maximise compliance teams’ efficiency and capacity’, without increasing costs, and brings onboarding times of corporate clients down from ‘three weeks, to just one day’.
Claus Christensen, CEO at KYC said; “If we are to win the fight against global financial crime, we must use innovative technological solutions to enforce AML standards. KYC’s digital solutions quickly and accurately identify and verify companies and individuals and
automate many processes which previously had be done manually, making onboarding less costly and less time consuming.
“At Know Your Customer, we believe that businesses of all sizes, and across industries, must have access to the tools they need to defend themselves against criminals and the devastating effects of money laundering and financial crime. We are very proud to launch this new product suite, creating accessibility and flexibility within this crucial market”.
Last year, Dublin-based KYC was one of six Irish companies to be chosen for the RegTech 100. It joined AQMetrics, BlxLaw, Corlytics, Fenergo, and Gecko Governance as the top 10) RegTechs to watch, as voted by a panel of industry experts.
In recent interview with RegTech Analyst, Christensen said the company was looking to raise capital through a Series A funding in Q1 2018, with ICOs being ‘a recipe for disaster’.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
