Know Your Company (KYC), a provider of KYC and anti-money laundering solution for rapid ID verification, is set to launch in Asia Pacific.
The Dublin-based smart technology client verification solution provider said it will open an office in Hong Kong after being chosen as finalist for leading 2018 Asian FinTech accelerator programme, which includes a number of other RegTech startups.
KYC is one of 10 companies aiming to transform banking and wealth management for individuals and businesses to be chosen to take part in the accelerator programme, backed by international banking group Standard Chartered.
During the programme, the company will look to grow its Asian business further. It will open an office in Hong Kong as well as a branch in Singapore to capitalise on a growing focus on anti-money laundering and regulatory compliance in the highly dynamic Asia Pacific region.
Claus Christensen, KYC CEO, said: “AML compliance change across Asia is being led by a mix of local and international regulations, with a significant portion of compliance costs spent on staff manually processing know your customer documents. Technology used to automate on-boarding processes and the move to a fully digital compliance workplace are still in their infancy. This represents a huge opportunity for KYC.”
The other finalists include AIZEN, which provides a real-time AI Credit Cycle Control Module to help banks monitor, predict, and control loan portfolios in a single platform, cyberProductivity, which provides banks with real-time accounting data, Enforcd, a global regulatory intelligence platform that helps banks embed a strong compliance culture, and Exate Technology, which provides a data privacy solution to protect data.
It also includes trade finance platform FundPark, personal finance management startup gini , wealth advisory business Investment Navigator, financial auditing business Mindbridge AI, and data and analytics provider vPhrase.
These finalists will participate in a 12-week curriculum that will provide them access to expert advice in market developments, obligations and investment opportunities, as well as opportunities to explore partnerships with Standard Chartered. The programme also aims to leverage SuperCharger’s network of supporting partners that include Baker & McKenzie, Arbor Ventures, InvestHK, Amazon Web Services, Microsoft and Temenos.
In an exclusive interview with RegTech Analyst, Claus Christensen said KYC was looking to launch a Series A funding round later this year. “We have customers, we have traction and something to show, it’s not just a dream. So, we are now at a stage where we would should be shooting for something bigger,” he added.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
