Know Your Customer & JETCO team to support Financial Institutions in Hong Kong

By Gloria Mathias

RegTech provider Know Your Customer has announced a strategic partnership with Joint Electronic Teller Services Limited (JETCO) to facilitate real-time access to official company registries for Hong Kong’s financial institutions.

With the collaboration between Know Your Customer and JETCO, financial institutions will be able to easily leverage Know Your Customer’s real-time connectivity to the Hong Kong Companies Registry and Inland Revenue Department through JETCO’s platform to request and access useful commercial data.

Know Your Customer specialises in corporate onboarding and ongoing compliance solutions. The modular know-your-business (KYB) platform with a related API set provides live access to the official company registries in 130+ countries globally.

As a bank consortium, JETCO is devoted to providing reliable and innovative FinTech solutions to banking industries across Hong Kong and Macau.  In 2022, JETCO successfully launched the JETCO CDI Portal to facilitate banks, as well as data consumers and data providers, to easily onboard the Commercial Data Interchange (CDI).

With CDI, banks and data providers, which are the sources of commercial data, can reach out to each other via a single connection to CDI, which ensures that data sharing is more secure, efficient, and scalable.

“As an organisation, we are committed to the mission of financial inclusion for SME customers in Hong Kong. Through this new partnership with JETCO, banks will be able to deploy our live registry connector via a single API in a matter of weeks, thus accelerating business verification and SME onboarding for multiple use cases, from bank account opening to loan approvals and supply chain management,” said Claus Christensen, CEO & Co-Founder at Know Your Customer Limited

“Through the partnership with Know Your Customer, JETCO extends its offering on the JETCO CDI Portal solution further by presenting valuable commercial data from Know Your Customer so that banks can access official company documents and shareholder data of SME and corporate customers in a much simpler and more effective way,” shared Yvonne Che, CEO of JETCO.