Tag: Aqubix

The Central Bank of Cyprus (CBC) has taken a significant step towards modernising its banking sector by awarding a tender to a joint venture between Aqubix and Infocredit Group.

KYC Portal has quickly become a leader in the client onboarding market. This is how it works.

It's hardly a secret that the coronavirus has wreaked havoc on how businesses are conducted. Fortunately, several RegTech businesses offer a huge range of services to help.

With the coronavirus causing havoc with businesses’ operations, compliance company Aqubix believes unprecedented times like these make technology more crucial for the on-going business of due diligence and risk-related industries.

KYC Portal may have started as a side project, but its massive success has made it into a leader in the client onboarding market.

The 2010s saw business leaders realise the importance of compliance. However, RegTech could get even bigger in the next decade, believes Kristoff Zammit Ciantar, CEO of KYC Portal.

It has become a common occurrence that a subject (be it a legal entity or a human being) is involved in multiple aspects within an organisation. An entity which is being serviced for different products or services would usually lead to multiple records of the subject and also multiple KYC processes leading to inefficiencies and also increased risk. KYC Portal allows you to benefit of such occurrences to improve efficiencies and reduce risk exposure

Based on client requests, KYC Portal has integrated its platform with the data provisioning services of Acuris Risk Intelligence. The integration is automated using the APIs available by both tools. By using the API of KYC Portal to push and pull data requests from the API of Acuris Risk Intelligence, it allows for further automation in the process flows of KYCP.

Taking a risk-based approach during the due diligence process is often perceived as purely cost. It’s also something that will always be asked for by regulators, and costs are continuing to increase whenever there are new clients.

Aqubix’s KYC Portal has revealed an unnamed offshore bank has deployed its KYC and due diligence solution to automate 60 per cent of its retail onboarding processes.