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    Know Your Customer (company)

    From Wikitia - Reading time: 4 min

    Know Your Customer Limited is a company that specialises in improving the processes of KYC (Know Your Customer) and KYB (Know Your Business)[1]. They provide digital tools aimed at simplifying customer onboarding and ensuring compliance with anti-money laundering regulations. Their system connects directly to official company registries, facilitating the swift identification and verification of companies and individuals before client onboarding[2].

    Established with the objective of enhancing global business transparency and easing compliance burdens for financial entities and their clientele, Know Your Customer has expanded its presence internationally with offices in locations such as Hong Kong, Dublin, Singapore, and London. Serving clients across 11 sectors in 18 regions, the company aids in verifying and onboarding customers from over 125 countries[3].

    History[edit]

    Know Your Customer Limited was founded in Hong Kong in 2015 by Claus Christensen, Richard Barrett, and Cormac Doddy.[4]

    In 2018, the company participated in two accelerator programs: Supercharger Hong Kong[5] and Accenture’s Fintech Innovation Lab Asia-Pacific[6].

    In 2018, Claus Christensen, the CEO & Co-Founder, was quoted by Forbes discussing Dublin's potential as a regulatory technology hub post-Brexit.[7]

    In 2018, during Hong Kong Fintech Week, Know Your Customer formed a partnership with Neat Limited, a Hong Kong-based fintech entity. This collaboration aimed to improve onboarding procedures and enhance Anti-Money Laundering (AML) and KYC verifications. The partnership was acknowledged by the Irish government through its agency, Enterprise Ireland[8].

    In 2021, the company received investment from the Italian credit information company CRIF.[9]

    Services[edit]

    KYC Workspace is a cloud-based platform aimed at centralising the AML and KYC processes. It provides a digital workspace for teams to collaborate, a risk engine to categorise customers, and tools for report generation and workflow automation. The platform also offers online portals for document collection and forms, aiming to reduce the need for email exchanges and streamline compliance tasks.[10]

    KYC Data is a tool that provides access to company information from over 125 countries. It sources data from official company registry documents and employs AI to identify company owners and verify IDs from various countries. Additionally, the platform conducts checks against lists that flag potential financial risks and facilitates customer detail verification.[11]

    KYC Review is a tool designed to assist businesses in maintaining up-to-date customer records in compliance with anti-money laundering regulations. It connects to company databases to update customer details and notifies teams of any alterations. The platform conducts ongoing checks on customers for potential financial risks, offers features to manage historical customer data, and sends notifications regarding impending identity document expirations.[12]

    Industry contributions[edit]

    Since 2020, the company has produced "RegTalks", a podcast hosted by Claus Christensen. The podcast is available on major platforms like Spotify, Apple Podcasts, and Google Podcasts.[13][14][15]

    In 2022, Christensen became a Senior Lecturer for a course on AML & Client Onboarding, part of the RegTech specialization by the Finance, Technology and Entrepreneurship (CFTE).[16]

    Awards[edit]

    2022 and 2023

    • Listed in the RegTech100 by Fintech Global.[17]

    2022

    • Received the Silver Award in the ASEAN Category at the SFF Global FinTech Awards by the Monetary Authority of Singapore (MAS).[18]
    • Recognized as the "Best Compliance Solution" at the AMTD DigFin Innovation Awards.[19]
    • Named "RegTech Partner of the Year" at the British Bank Awards.[20]
    • Awarded "Best Client On-Boarding Solution" at the A-Team Insight Awards APAC.[21]

    2019

    • Featured as "Start-Up of the Week" by Silicon Republic.[22]

    References[edit]

    1. ↑ "Know Your Customer". Retrieved 2023-09-19.
    2. ↑ "Registry Coverage". Retrieved 2023-09-19.
    3. ↑ "Clients and Partners". Retrieved 2023-09-19.
    4. ↑ "About Know Your Customer"
    5. ↑ "SuperCharger FinTech Accelerator Video"
    6. ↑ "8 Startups Selected for Accenture’s 2018 Fintech Innovation Lab Asia-Pacific"
    7. ↑ "Will Dublin Become Europe's Regulatory Technology Hub After Brexit?"
    8. ↑ "Irish fintech companies secure strategic partnerships at Hong Kong Fintech Week". Government of Ireland. November 2018. Retrieved 19 September 2023.
    9. ↑ "Know Your Customer and CRIF Announce Strategic Investment"
    10. ↑ KYC Workspace
    11. ↑ KYC Data
    12. ↑ KYC Review
    13. ↑ "RegTalks on Spotify"
    14. ↑ "RegTalks on Apple Podcasts"
    15. ↑ "RegTalks on Google Podcasts"
    16. ↑ "RegTech Compliance in Finance: AML & Client Onboarding Course"
    17. ↑ "RegTech100 Report 2023"
    18. ↑ "MAS and SFA Announce Award Winners at Singapore Fintech Festival"
    19. ↑ "AMTD DigFin Innovation Awards 2022"
    20. ↑ "British Bank Awards 2022 Finalists"
    21. ↑ "A-Team Group Names Winners of Inaugural RegTech Insight Awards APAC 2022"
    22. ↑ "Start-Up of the Week: Know Your Customer"

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