We are excited to announce our latest strategic partnership, this time with Cardiff based technology provider W2 Global Data. More clients around the world will now have access to our latest KYB (Know Your Business) offering, including primary source data on global Ultimate Beneficial Owners, via our award-winning compliance platform.
Together, we will ensure W2’s range of clients across regulated industries have access to real-time, accurate, and audit-proof entity information directly from the primary source. The partnership will not only allow clients of W2 to reduce their currently manual and time consuming KYB processes but will also empower W2 to enable a truly seamless onboarding journey.
“Partnering with kompany is a critical strategic development for W2. Having the ability to offer our clients access to company filings and real-time business information allows for more streamlined compliance with the 5th and 6th Anti-Money Laundering Directives and ensures that the effectiveness and efficiency of the digital onboarding journey is enhanced.” commented Warren Russell, CEO & Founder of W2.
kompany will also empower W2 to offer their clients information on shareholders as well as annual and financial accounts direct from official commercial registers around the world, enabling clients to comply with regulations using only the most up-to-date and accurate information available.
Our CEO and Co-Founder Russell E. Perry explains, “Despite reports indicating that the global KYB market will be valued at close to USD 12 billion by next year, we estimate that currently only 5% of financial institutions have an automated B2B or corporate banking onboarding journey. In fact, nearly 75% of these businesses are still relying on Google searches to complete their customer due diligence. We are excited to bring our RegTech platform to W2 and empower their clients to get the best value out of their compliance procedures with the greatest ease and confidence possible.”
kompany is the leading RegTech platform for Global Business Verification and Business KYC (KYB) for AML compliance. Its advanced API platform, collaborative web-based KYC workspace and UBO discovery® products provide financial institutions, payment providers, insurers and other regulated corporations the automation platform and tools required for Business KYC (KYB) and audit-proof business verification for anti-money-laundering compliance. Clients include global and international banking groups, FinTechs, Big Four accounting firms, law firms, Banking-as-a-Service and compliance platforms, as well as multinational corporations.
kompany is an alumnus of Mastercard Start Path, Plug and Play FinTech, Raiffeisen Bank International’s Elevator Lab, the Oracle Scale Up programme and founding member of the International RegTech Association and the Austrian Blockchain Association.
It is headquartered in Vienna, Austria with offices in London, New York, and Singapore. kompany is a government licensed clearing house of registers with real-time access to commercial registers, financial and tax authorities worldwide. Find out more at kompany.com.
W2 have access to leading data and service providers ensuring that up to date and reliable information is available via a range of online APIs and rescreening solutions; enabling businesses to satisfy regulatory requirements and make reliable informed decisions about consumer and corporate customers.
W2 provides Know Your Customer (KYC), anti-money laundering (AML), Know Your Business (KYB) and ID Verification (IDV). W2 can provide the right solution on a domestic and international scale, for both point of acceptance and ongoing monitoring). W2 offer the most customer focused compliance solution available, allowing active management of risk.
Source: kompany Press Release