Rising threats to financial fraud and increased regulatory compliance requirements have prompted financial institutions and regulated entities to beef up their know-your-customer (KYC) and know-your-business strategies. Cyberport start-up Know Your Customer Ltd, a top provider of real-time international registry connection with access to over 500 local registries in more than 140 countries, stands out among the available solutions for its award-winning SaaS platform and APIs. This Cyberport community company currently serves over 1,000 corporate clients in Hong Kong, Shanghai, Singapore, Malaysia, the UK, and Ireland.
Know Your Customer’s KYC products enable financial institutions to centralise, streamline, and automate their tedious anti-money laundering compliance, client onboarding, and periodic review processes. Furthermore, its solutions are designed to assist financial institutions with enhancing the KYC experience they provide to new customers while maintaining compliance with the Hong Kong Monetary Authority’s (HKMA) regulations.
The key features of the platform include AI-powered automatic document analysis, real-time identification of shareholders and ultimate beneficial owners (UBOs) across international borders, fully configurable risk assessment and workflow capabilities, and a cloud-native architecture for scalability and flexibility. The platform’s APIs also allow for efficient customisation to meet diverse needs.
Since its inception in 2015, Know Your Customer has rapidly expanded its global footprint, now serving clients across 11 verticals. In 2023, the company’s registry solution was incorporated into the HKMA’s Commercial Data Interchange, which enhances data sharing among financial institutions.
The company is actively looking for strategic partnerships with RegTech providers in credit scoring, transaction monitoring, fraud detection, and eKYC. It also plans to extend its reach into Southeast Asia, the Greater Bay Area, and Mainland Europe to capitalise on the evolving needs of compliance teams and clients.
