Another move for strengthening KYC (Know Your Customer) onboarding has been made and two renowned KYC and RegTech firms have now partnered to provide Plug-and-Play client onboarding solutions. Kyckr is a corporate KYC firm and Blacksmith KYC is a RegTech venture of ING Bank. They both have seen potential in partnering for simplifying the onboarding process.
Kyckr serves the compliance industry by providing real-time access to aggregated KYC and Ultimate Beneficial Owner (UBO) data with over 300 company registries worldwide. Companies use this data to understand their customer and suppliers where they can minimize the risk and prevent financial crimes like money laundering.
Blacksmith KYC provides process automation services to ING Bank and other clients where they can digitally perform KYC and collect data from trusted sources. They can also deliver the customer due diligence (CDD) files.
Nynke Postma, CEO of Blacksmith KYC
“Our integration with Kyckr will give our clients access to real-time data from 300 primary regulated registries. This is a great opportunity to build trust and long-term relationships with customers efficiently. Replacing the manual data collection and processing large amounts of it from a variety of sources, both firms can now focus on minimizing risk.”
Ian Handerson, CRO Kyckr
“Teaming up with Blacksmith means more integration in solutions for businesses who need verification of customers and suppliers where the onboarding process is also streamlined. Now people are more aware of KYC and its importance in regulating businesses. Our API enables integration and automation to a whole new level across the RegTech industry.”
Source: finextra.com
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