Know Your Customer Join Forces With Credit Bureau Malaysia for KYB Complianceby Fintech News Malaysia October 24, 2023 0 comments
The partnership will give Credit Bureau Malaysia’s clients access to Know Your Customer’s global register network, which spans over 130 countries and provides official company data and documents on millions of companies.
This will help compliance teams to map shareholding structures across borders and identify ultimate beneficial owners worldwide.
The partnership is also expected to automate periodic reviews, flagging material changes in corporate structure or business details sourced from the registry.
This marks a significant milestone in Know Your Customer’s on-going expansion strategy across Southeast Asia.
Leong Weng Choong, CEO of Credit Bureau Malaysia said,
“Having witnessed the constant evolution of regtech in the financial industry, we are delighted to work with our partner, Know Your Customer, to increase data efficiency, accuracy and productivity for credit due diligence.
Their industry-leading and comprehensive real-time registry network brings valuable support and much-needed global entity data to our extensive range of clients. We very much look forward to being part of the next chapter of their expansion in Malaysia and across the APAC region”.
Claus Christensen, CEO and Co-Founder of Know Your Customer said,
“This partnership represents a key milestone in Know Your Customer’s journey of regtech promotion in the Southeast Asian market.
We are delighted that our innovative approach to KYB compliance and business verification is being recognised by Credit Bureau Malaysia and as an organisation, we are proud of our contribution to Credit Bureau Malaysia’s essential role in supporting the local financial system through the provision of more reliable credit and business data.”