Kyckr partners with Blacksmith for plug-and-play onboarding

Kyckr provides its customers and partners real-time access to aggregated corporate Know Your Customer (KYC) and Ultimate Beneficial Owner (UBO) data from over 300 company registries and primary regulated sources worldwide. This data allows companies to understand their customers and suppliers better, minimising exposure to commercial risk, preventing financial crime like money laundering, and ensuring regulatory compliance.

Automating client onboarding

Blacksmith, the regtech venture of ING Bank, offers ING Bank and its other clients a single platform to digitalize and automatically apply their policy requirements in the KYC process, collect only the relevant data from the sources they trust, and deliver standardised and actionable customer due diligence (CDD) files. With their DataHub and Digital Policy Manager, Blacksmith cuts the efforts to create CDD files in half, and enables its clients to stay compliant with changing regulations.

Blacksmith’s officials said that their integration with Kyckr gives their clients access to real-time data from over 300 primary regulated sources. This will help them build trusted relationships with customers faster and more efficiently. On top of this, it enables them to put their KYC teams back within their strength. Rather than manually collecting and processing large amounts of data from a large variety of data sources, they can now focus their efforts on risk analysis. Analysts now start the process with more and higher quality data, and better insights in data and risks which improves the efficiency and quality of their KYC process.

Also commenting on the partnership, representatives from Kyckr said that partnering with Blacksmith means a more integrated solution for businesses that want to verify the provenance of their customers and suppliers, while at the same time streamlining their onboarding process. There’s greater awareness today across all sectors that KYC isn’t just for regulated businesses. It’s essential to risk management and wise data-led decision making. Kyckr’s API enables greater integration and automation across the regtech industry, which is good for legitimate businesses and bad for financial criminals.

What does Kyckr do?

Kyckr is a B2B information services company that aggregates, organises, and structures the world’s primary source company data to help businesses reduce the risks associated with counterparty relationships. Unlike traditional data companies, which source data from multiple secondary sources, Kyckr provides accurate data with trusted, legally-authoritative provenance. This helps organisations to avoid the significant regulatory and commercial costs associated with using poor-quality data.By combining accurate data with innovative technology, Kyckr’s solutions help businesses succeed in the fight against fraud, money laundering and financial crime.