back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

kompany launches AML solution for easing shareholder discovery process

By Megha Bhattacharya

February 04, 2021

  • Canada
  • Kompay
Share

RegTech firm kompany announced the launch of a new anti-money laundering compliance solution in a bid to ease ultimate beneficial ownership (UBO) discovery for regulated entities across the world. The company developed its latest product to simplify the search and discovery process of shareholders through its application of their category-leading artificial intelligence engine.

“Shareholder information mainly consists of unstructured data, often hidden in PDFs, with little to no consistency in how it’s collected, recorded or stored.” describes kompany CEO and Co-founder Russell E. Perry. “An estimated 80% of all company information in registers around the world is only available as unstructured data. As the costs and risks of non-compliance increase, the market is very much craving a solution like UBO discovery to enable smarter, faster and complete compliance.” added Perry, “Our goal is to maintain our reputation as an industry leader in RegTech and stay ahead of the regulatory burden through technology.”

According to kompany, features include the ability to break down jurisdictional barriers to display cross-border ownership information in real-time and on-demand. It also includes the intuitive visualisation of the ownership structure, which presents complex shareholder networks in an easy-to-read format.

UBO discovery is also available via API, allowing it to scale according to the client’s requirements and transforms the currently manual, time-intensive and costly process to an automated and efficient one.

Recently, RegTech TruNarrative teamed up with German FinTech kompany for enabling faster anti-money laundering compliance for regulated businesses across the world. TruNarrative’s decisioning and orchestration solution will now include kompany’s global register network for AML compliance. The RegTech is partnering with kompany to add the latter’s business verification and digital onboarding solutions to the TruNarrative App Store.

Previous Article

February 04, 2021

Visa partners with First Boulevard, advancing digital currency roadmap

Read More
Next Article

February 04, 2021

Payoneer merges with FTAC Olympus Acquisition Corporation to become a publicly traded company

Read More










IBSi Daily News Analysis

5G, India, Telecom

August 09, 2022

Canada

The 5G race has begun in India; how will it affect payments?

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

iDenfy collaborates with Peccala to prevent its customers from fraud

Read More

August 05, 2022

Encompass Corporation states that banks see greater AML risk due to sanctions

Read More

August 04, 2022

Alloy announces its global expansion

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
IBS Intelligence - Global Digital Banking Vendor & Landscape Report Q2 2022
Global Digital Banking Vendor & Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Treasury & Capital Markets Systems Report Q2 2022
Treasury and Capital Markets Systems Report 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022