RegTech 100 company Know Your Customer has landed a €250,000 investment from Enterprise Ireland.
The company, which helps to quickly and accurately identify and verify companies and individuals prior to client on-boarding, said the capital will be directed towards growth in key Asian markets, particularly mainland China, Hong Kong and Singapore.
CEO, Claus Christensen said “Numerous financial institutions from mainland China are now expanding overseas; Hong Kong is where they graduate from the Chinese regulations to the global ones, and we will be there to help them.
“Enterpise Ireland, and particularly their FinTech team, have an outstanding international reputation for making sound investments in high-potential Irish businesses. We are proud to be an Irish FinTech company, and extremely proud to receive this investment from Enterprise Ireland.”
Earlier this year, RegTech Analyst reported that KYC was looking to raise capital through a Series A funding in Q1 2018, with Christensen calling ICOs ‘a recipe for disaster’.
Its solutions offer quick ultimate Beneficial Owner identification, document collection, Digital ID verification and automated anti-money laundering checks in multiple languages across multiple jurisdictions.
KYC’s comprehensive client identity verification solution from KYC helps with compliance, risk and client on-boarding functions, ensuring companies can accurately and confidently conduct their KYC and AML functions. The KYC product suite comprises; Identify by KYC, which delivers the ‘experience customers deserve’ while ensuring 100% KYC and AML compliance for businesses. Its suite also includes Corporate Validate by KYC, a fully integrated KYC/AML solution that automates the KYC process for corporate entities
It also provides full onboarding, which delivers a more efficient, cost-effective means to conduct KYC, on board individual and corporate clients, request geo-localised digital signatures of contracts, and maintain data, all in one centralised solution according to the company.
Eoin Fitzgerald, senior development advisor (FinTech) at Enterprise Ireland, said: “Enterprise Ireland are very keen to support the continued growth of Know Your Customer through this investment.
“The company has demonstrated the quality of its solution and team through the deals it has signed across Ireland, UK and particularly in Asia. The company is another very strong RegTech company being built out of Ireland and directly reflects the high potential and innovative solutions that Enterprise Ireland focuses on supporting. We look forward to supporting the growth of Know Your Customer as it increases its presence and sales in international markets”.
Last year, KYC was hand-picked by a panel of industry experts for the RegTech 100, a list of companies that every financial institution should know about in 2018. The RegTech 100 is part of the Global RegTech review – an essential, in-depth analysis of the global RegTech market.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
