The new KYC for Business service will offer clients the combination of two best-in-class services via one single enquiry, helping to streamline any business customer checks they need to perform whilst ensuring they are compliant.
Clients of the service will be able to perform business and individual identity and verification checks in real-time, ensuring they satisfy KYC requirements without impacting the customer journey.
The requirement to carry out enhanced due diligence checks* mean that when undertaking financial transactions with other businesses, organisations need to ensure they are both familiar with the business they are transacting with and any related companies – and that they have also performed the correct checks on any directors and beneficiaries of that business.
The Callcredit-DueDil KYC for Business service, will be available via a single application programming interface (API) which allows clients to feed the information directly into its own systems, or via a browser for a remote view. Clients will be able to make use of both parts of the service together, or they can use either on its own, depending on their requirements.
Alan Golob, Data Solutions Director, Callcredit Information Group, said: “This service provides a one-stop-shop for a business’s identification and verification needs. By combining Callcredit’s data, industry knowledge and first line support capabilities with DueDil’s data and development expertise, we’ve created a service that will fully integrate into a client’s system or work as a standalone tool.
“Advancements in regulatory requirements have caused many businesses to reassess their processes and checks, and this solution answers this need.”
Damian Kimmelman, CEO of DueDil, said, “Compliance is not only a regulatory requirement, it is the heart of every resilient business. This can only be achieved by having a true and comprehensive profile of the customers that you are dealing with. Customers of our new service will have the comfort of knowing that they can make KYC checks in a simple, automated way through a platform which is underpinned by one of Europe’s largest company information sources.”
Source: DueDil Press Centre