As per the information detailed in the announcement, KYP was selected as a global orchestration solution to manage tell.money’s relationships on an ongoing basis. What is more, the organisations have also entered a strategic partnership to provide Open Banking account providers with extensive, real-time continuous risk monitoring of their partners and TPPs.
Commenting on the partnership, David Monty, Co-Founder at tell.money advised that the tell.money gateway is a dedicated interface for banks, fintechs, and other account providers that aims to enable them to meet PSD2 obligations in a simple and low-cost manner. Although a multitude of suppliers in the market provides ‘single solutions’ on adverse media or PEPs/sanctions, the complete data set (Dark Web, adverse media, credit scores, PEPs, sanctions, cyber risk, and insolvency checks) lacks delivery in an integrated actionable interface.
As per their statement, combining KYP’s Risk Intelligence Platform with tell.money’s gateway is set to enable the company to provide an increased level of risk monitoring and assurance to its bank and fintech clients. What is more, the KYP solution is available to all tell.money clients both as a stand-alone bolt-on or value-added managed service.
Adding on the announcement, Alan Nagle, CEO & Founder of KYP stated that the company is ‘delighted’ to partner with tell.money and is looking forward to continuing this collaboration moving forward. The spokesperson advised that the KYP platform aims to address the ‘urgent’ market need for ongoing monitoring and proactive alerts of merchants, TPPs and partners that provide actionable risk intelligence. As KYP is not an onboarding and transaction monitoring solution, but a real-time B2B ongoing fraud, risk, and reputational mitigation solution, the company is looking forward to seeing how KYP will help protect tell.money’s client base worldwide.
A real-time third-party risk intelligence platform, KYP provides continuous monitoring, insights, and alerts for the delivery of a full picture of the partners, suppliers, and companies that businesses rely upon. The company connects to global trusted data sources leveraging its machine learning and AI and delivers monitoring and alerts through a holistic analysis of the Dark Web, adverse media, credit scores, PEPs, sanctions, cyber risk, insolvency checks, linking graph connectivity, IDV, and behavioural biometrics.
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