Kyckr and Blacksmith KYC partner to enable plug-and-play client onboarding
London, 18 April // Kyckr, the corporate Know-Your-Customer company and Blacksmith KYC, the RegTech venture of ING Bank, have partnered by giving Blacksmith’s clients access to Kyckr's real-time data retrieval and registry connections-simplifying onboarding and review processes that would otherwise take months.
Kyckr provides its customers and partners real-time access to aggregated corporate Know Your Customer (KYC) and Ultimate Beneficial Owner (UBO) data from over 300 company registries and primary regulated sources worldwide. This data allows companies to understand their customers and suppliers better, minimising exposure to commercial risk, preventing financial crime like money laundering, and ensuring regulatory compliance.
Blacksmith, with policy digitalisation as the core of its solution, offers ING Bank and its other clients a single platform to digitalize and automatically apply their policy requirements in the KYC process, collect only the relevant data from the sources they trust, and deliver standardized and actionable customer due diligence (CDD) files. With their Data Hub and Digital Policy Manager Blacksmith cuts the efforts to create CDD files in half, and enables its clients to stay compliant with changing regulations.
Nynke Postma, CEO of Blacksmith, said, "Our integration with Kyckr gives our clients access to real-time data from over 300 primary regulated sources. This will help them build trusted relationships with customers faster and more efficiently. On top of this, it enables them to put their KYC teams back within their strength. Rather than manually collecting and processing large amounts of data from a large variety of data sources, they can now focus their efforts on risk analysis. Analysts now start the process with more and higher quality data, and better insights in data and risks which drastically improves the efficiency and quality of their KYC process".
Ian Henderson, CEO of Kyckr, said, "Partnering with Blacksmith means a more integrated solution for businesses that want to verify the provenance of their customers and suppliers-while at the same time streamlining their onboarding process. There’s greater awareness today across all sectors that KYC isn’t just for regulated businesses. It’s essential to risk management and wise data-led decision making. Our API enables greater integration and automation across the RegTech industry, which is good for legitimate businesses and bad for financial criminals”.
About Kyckr Limited
Kyckr is a B2B information services company that aggregates, organises and structures the world’s primary source company data to help businesses reduce the risks associated with counterparty relationships. Unlike traditional data companies, which source data from multiple secondary sources, Kyckr provides accurate data with trusted, legally-authoritative provenance. This helps organisations to avoid the significant regulatory and commercial costs associated with using poor-quality data. By combining accurate data with innovative technology, Kyckr’s solutions help businesses succeed in the fight against fraud, money laundering and financial crime. Kyckr is wholly owned by serial entrepreneur and founder of WiseTech Richard White through his personal investment vehicle RealWise KYK AV Pty Ltd.
To learn more about Kyckr, visit www.kyckr.com
Blacksmith KYC offers a unique solution, being the only RegTech with policy digitalisation as the core of its platform. Being developed ‘by banks, for banks’ with a deep understanding of KYC challenges led to this unique approach. It was founded in 2017 and originally developed at ING innovation Labs. In addition to their flagship customer ING, Blacksmith’s customer base includes banks and other financial institutions from across the globe. Blacksmith enables its clients to make their KYC policies the heart of the process ,connecting them to the data sources they know and trust. The ING-owned venture generates tailored KYC files on clients and can quickly implement regulatory changes in processes. Next to up to 50% time savings and improved regulatory compliance, Blacksmith is easy to implement with high user satisfaction ratings.
To learn more about Blacksmith, visit https://blacksmithkyc.com/
Media contact details:
Cat Lenheim, ThoughtLDR
+44 751 1117587