kompany GmbH, a leading global RegTech kompany now offers the Phundex platform instant access to original company information from more than 200 jurisdictions. Access to kompany’s global network of registers enables Phundex customers to validate basic company information about their clients directly via the Phundex platform.
As part of fulfilling Know-Your-Customer requirements, corporate clients want to confirm business identification through an official government register extract. Phundex users can now complete this identity verification seamlessly, accessing original company information via kompany’s global register network.
This partnership marks one of the first steps Phundex has taken to enable direct access to information on its platform from specialist partners. The Phundex platform enables users to pull basic company information directly into their transaction and process data fields at any time during a transaction process. This eliminates the need to retrieve external data manually, excludes static database information, and reduces operational risk.
Heather-Anne Hubbell, CEO of Phundex, says, “With the connection of the Phundex platform to kompany’s global register network, we are closing an important gap in the accessibility of company information. By directly accessing the registers of other countries and jurisdictions, we are streamlining the gathering of company information while reducing the operational risk associated with manual data entry.”
A global network providing real-time access to primary source Business KYC (KYB) data from more than 200 jurisdictions covering over 115 million companies
The partnership between Phundex and kompany provides users of the Phundex platform real-time access to company information from commercial registers, financial authorities and tax offices, worldwide.
Through instant access to this network of primary source information, acquiring company information is now a more simplifed task. In addition, Phundex clients now have access to over six billion company filings and documents, including register reports, annual accounts, and articles of association, thanks to kompany’s proprietary network.
Russell E. Perry, CEO and Co-Founder of kompany: “With increasing compliance and AML requirements, the veracity and source of company data have become a central point in combating money laundering and fulfilling AMLA obligations. We are, therefore, proud to provide Phundex clients with our unparalleled access to real-time audit-proof company information, ensuring access to company information across multiple jurisdictions and helping their clients achieve improved business efficiency.”
Our centralised collaboration, transaction and data management hub improves efficiency, reduces operational risk and enable real-time collaboration across all stakeholders. We’ve worked in the industry for years, so we designed Phundex to streamline and standardise processes, improving go-to-market time and provide better transparency and disclosure, with real-time dashboards to track status.
Processes and activities link to documents and data forms with full permission, audit and version control. Process controls can be built right into the pathways, reducing operational risk. User permissions ensure each stakeholder has access to only the information they need, when they need it, leading to improved due diligence and information governance.
Source: kompany Press Release