“Know Your Customer has designed a cloud and AI-based solution that simplifies AML compliance, making it easier to meet changing regulations and improve efficiency over time. ”

Regtech is the application of various new technological solutions that assist highly regulated industry stakeholders in setting and meeting regulatory governance, reporting, compliance, and risk management obligations. The right RegTech solutions will make it easier for financial institutions and regulated organizations to translate written compliance policies into step-by-step digital procedures. Know Your Customer has designed a cloud and AI-based solution that simplifies AML compliance, making it easier to meet changing regulations and improve efficiency over time. By partnering with regulated organizations across industries, Know Your Customer simplifies, enhances, and digitizes the KYC and AML compliance process. Simply put, Know Your Customer replaces disconnected systems and repetitive manual processes with an integrated KYC and AML solution, delivering more substantial compliance and client onboarding.

With a unique combination of Natural Language Processing, Artificial Intelligence, Optical Character Recognition, and Automation, Know Your Customer provides a single source of truth for compliance teams on all corporate, SME, and individual clients. Their platform directly connects to the official company registries and retrieves information and identifies the Ultimate Beneficial Owners. The range of outreach tools enables compliance teams to securely verify the identity of individuals in 180+ countries around the world. Comprehensive AML screening is performed on all customers, and any change in the risk profile is instantly flagged. The company’s compliance platform transforms compliance department into a digital-first function, able to scale at the pace of your business and expand globally. Team members get access to one digital workspace to collaborate remotely, review automatically sourced KYC and AML information and perform all due diligence activities from one centralized location. All steps are tracked in an immutable audit trail for maximum transparency and accountability.

In addition, the risk engine translates specific risk policies into highly automated and efficient processes with fully configurable risk engine. Import risk parameters – covering multiple local regulations, jurisdictions, products, channels or internal blacklists – into the KYC Workspace. Let the system automatically assign low, medium and high-risk profiles to each prospective customer. This way, the solution helps to adjust client due diligence journeys to new risk criteria as they are introduced over time. Easily build custom KYC and client due diligence reports to prove on-going compliance and in-built controls to internal stakeholders and regulators.

KYC Workspace provides an Immutable Audit Trail. All details and review steps are automatically tracked within the relevant customer profile. Actions and events are stored in a concise, immutable record which can be easily consulted by team members and retains documentary evidence for auditors.

Know Your Customer digitizes every step involved in traditional client onboarding and improves efficiency, accuracy, and user experience. Know Your Customer entered the market in the summer of 2017. Since then, they have acquired customers across 18 countries and 11 different vertical markets – including accountancy, banking, insurance, payments, real estate, and legal.

Know Your Customer optimizes the Know Your Business process without taking control from compliance staff, speeding up the onboarding of new clients. This is done by utilizing optical character recognition, artificial intelligence, API integrations, and automation to decode complex company structure charts and identify Ultimate Beneficial Owners across different jurisdictions. Know Your Customer delivers the onboarding experience customers deserve while ensuring ongoing KYC and AML compliance.

Know Your Customer also offers agile client onboarding services. One can design frictionless journeys that bring the risk policy to life, connect to official company registries worldwide in real-time from a centralized platform, download mandatory company documents from their primary source and perform required KYC checks on shareholders and ultimate beneficial owners as AML regulations require.

Know Your Customer has partnered with world-leading organizations to provide fully integrated KYC and AML solutions to our vast range of international clients. Their partners include Microsoft, CRIF, Refinitiv, TransUnion, Napier, Dow Jones, and Provenir. Their partnership formula uses the modular framework and their extensive project management experience. Their clients can rely on the existing contracts to create a bespoke Business KYC solution that meets specific needs.

Established in Hong Kong in 2015, Know Your Customer was founded by Claus Christensen, Richard Barrett, and Cormac Doddy. The three co-founders joined forces to build a state-of-the-art platform to revolutionize the world of KYC compliance, in which they succeeded.