Know Your Customer & Credit Bureau Malaysia team to provide KYB data solutions
By Gloria Mathias
Under this new partnership, Credit Bureau Malaysia’s clients will gain access to Know Your Customer’s global register network, spanning over 130 countries and providing official company data and documents on millions of companies.
This resource empowers compliance teams to effortlessly map shareholding structures across borders and identify ultimate beneficial owners worldwide, ensuring a more robust due diligence process not only during onboarding but on an ongoing basis through automated periodic reviews flagging material changes in corporate structure or business details sourced from the registry.
As a result, compliance teams are empowered to make more informed decisions based on more accurate and current information, with higher protection from the risks and limitations of traditional databases, such as delays in ownership change reviews.
Know Your Customer is a RegTech provider specialising in next-generation digital onboarding and KYB automation solutions for global financial institutions and regulated businesses. This partnership marks a significant milestone in Know Your Customer’s ongoing expansion strategy across Southeast Asia.
“Having witnessed the constant evolution of RegTech in the financial industry, we are delighted to work with our partner, Know Your Customer, to increase data efficiency, accuracy, and productivity for credit due diligence. Their industry-leading and comprehensive real-time registry network brings valuable support and much-needed global entity data to our extensive range of clients. We very much look forward to being part of the next chapter of their expansion in Malaysia and across the APAC region,” shared Leong Weng Choong, CEO of Credit Bureau Malaysia.
“This partnership represents a key milestone in Know Your Customer’s journey of RegTech promotion in the Southeast Asian market. We are delighted that our innovative approach to KYB compliance and business verification is being recognised by Credit Bureau Malaysia, and as an organisation, we are proud of our contribution to CBM’s essential role in protecting and promoting the local financial system through reliable credit and business data,” said Claus Christensen, CEO & Co-Founder at Know Your Customer Limited.
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