Coda Payments partners with KYC

Tuesday 28 February 2023 10:56 CET | News

Cross-border payments and solution provider Coda Payments has partnered with RegTech provider KYC to deliver straight-through corporate onboarding across APAC.

Following this collaboration, Coda will incorporate Know Your Customer’s corporate onboarding solutions with its front-end and back-end operations. It will also use the KYC’s single API to connect to companies’ registries across 127 countries across the world in real-time while retrieving the necessary official documents automatically, extracting vital corporate information, identifying ultimate beneficial owners (UBOs) through documentary evidence as required by regulations, as well as to unraveling complex company chards. 

Coda will streamline its due diligence operations on business prospects and clients. The new onboarding process will be instrumental in enabling fast and secure expansion for their client base in multiple Asia-Pacific markets and industries, as well as globally. Moreover, it will focus on providing solutions to offer both improved customer experience and no-compromise compliance.

Cross-border payments and solution provider Coda Payments has partnered with RegTech provider KYC to deliver straight-through corporate onboarding across APAC.

Coda Payments’ strategy of development

Singapore-based company, Coda Payments offers its customers multiple secure cross-border monetisation solutions for digital products and tools. 

In May of 2022, the company partnered with Brazil-based bank Bexs Group. The collaboration aimed to expand its gamer market by integrating its services with Codashop, one of the services provided by Coda. 

Codashop expected to generate value by building loyalty among customers in Brazil. This was possible by offering a range of local payment methods and benefits. The short-term aim was to increase the client base by up to 10% with the integration of Codacash. The wallet was already available in Brazil and offered gamers several benefits and advantages. Codatshop has a built-in two-factor SMS authentication and, by using Codacash, players can top-up their wallets and profit from cashback while being able to save more from their funds. 

The partnership aimed to also include other segments with payout transactions, all processed by Bexs Pay, the Group’s cross-border payment service. Customers were given the opportunity to add funds to their digital wallets whenever they want, regardless of the payment method they chose or prefer to use. 

This announcement came a month after Coda Payments secured USD 690 mln for its cross-border payments solution, focused on the gaming industry, but also on other digital products and alternative app stores. 

Know Your Customer’s products and services

Regulatory technology (RegTech) company specialised in configurable corporate onboarding and KYB solutions, Know Your Customer provides its customers from multiple regulated sectors with numerous products and services. 

The portal is composed of three products that combine one modular solution. The KYC Workspace (designed to digitise, centralise, and streamline all the required steps in the AML and KYC processes, moving the compliance to the Cloud while using one digital platform), KYC Data (which equips compliance teams with an effective and secure tool in order to protect the businesses of its clients from multiple online threads, financial crime, or money laundering), and the KYC Review (a tool that keeps the customer records up to date through automated reviews, continuous KYC and smart monitoring).

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Keywords: partnership, KYC, KYB, AML, fraud management, fraud prevention, fraud detection, compliance
Categories: Fraud & Financial Crime
Companies: Coda Payments, Know Your Customer
Countries: Asia
This article is part of category

Fraud & Financial Crime

Coda Payments


Know Your Customer

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