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OVO & Refintiv’s World-Check to prevent financial crime in Indonesia

Indonesian digital payments platform OVO has selected Refinitiv’s World-Check in a bid to support its KYC and AML procedures for the minimization of exposure to financial crime risks.

Phil Cotter, Managing Director of the Risk business at Refinitiv, said, “We are delighted to support OVO in its journey to becoming Indonesia’s primary payment method with our trusted intelligence. As we continue to fight the uphill battle against financial crime, our World-Check offering meets the crucial KYC and third-party screening needs for OVO to serve Indonesian consumers, as well as the regulatory obligations as it grows its business.”

According to the supplier, World-Check is a structured database of intelligence on the heightened risk individuals and organizations. It focuses on supporting KYC and Third-Party risk due diligence process for uncovering risks associated with organized crime, fraud, money laundering, etc.

Harianto Gunawan, Director at OVO, said, “OVO’s adoption of World-Check highlights our continued commitment to building a robust security infrastructure to support Indonesia’s vision for a future-proof and digital economy. It also ensures that we remain vigilant in countering financial crime, which is critical to the success and future of our business. As Indonesia’s digital economy continues on its path to growth, OVO will continuously evolve and adapt to anticipate our customer’s needs, while maintaining industry-leading security standards.”

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