London – 20 April 2021: W2, a Cardiff primarily based expertise supplier, at this time introduced its strategic partnership with kompany, a RegTech platform for Know Your Firm (KYC) and Know Your Enterprise (KYB). The partnership will permit W2’s shopper base to entry the RegTech’s newest KYB providing, together with its world Final Helpful Proprietor (UBO) information, through its award-winning compliance platform.
W2’s partnership with kompany will be sure that W2’s vary of purchasers throughout regulated industries have entry to real-time, correct and audit-proof entity info immediately from the first supply. The partnership won’t solely permit W2’s purchasers to cut back handbook and time consuming KYB processes however will guarantee a really seamless onboarding journey for its purchasers’ prospects.
“Partnering with kompany is a vital for the strategic improvement of W2,” mentioned Warren Russell, CEO & Founding father of W2. “The power to supply our purchasers entry to firm filings and real-time enterprise info permits for extra streamlined compliance with the fifth and sixth Anti-Cash Laundering Directives and ensures that the effectiveness and effectivity of the digital onboarding journey is enhanced.”
The partnership will present full particulars on all shareholder info, in addition to annual and monetary accounts direct from official industrial registers worldwide utilizing kompany’s prolonged UBO service. It will allow W2’s purchasers to adjust to rules with essentially the most up-to-date and correct info out there.
“Regardless of reviews indicating that the worldwide KYB market will likely be valued at near USD 12 billion by subsequent 12 months, we estimate that at the moment solely 5% of monetary establishments have an automatic B2B or company banking onboarding journey,” mentioned Russell E. Perry, CEO and Co-founder of kompany.
“In actual fact, practically 75% of those companies are nonetheless counting on Google searches to finish their buyer due diligence. We’re excited to convey our RegTech platform to W2 and empower their purchasers to get one of the best worth out of their compliance procedures with the best ease and confidence attainable.”
kompany is the main RegTech platform for International Enterprise Verification and Enterprise KYC (KYB) for AML compliance. Its superior API platform, collaborative web-based KYC workspace and UBO discovery® merchandise present monetary establishments, cost suppliers, insurers and different regulated firms the automation platform and instruments required for Enterprise KYC (KYB) and audit-proof enterprise verification for anti-money-laundering compliance. Shoppers embody world and worldwide banking teams, FinTechs, Huge 4 accounting corporations, regulation corporations, Banking-as-a-Service and compliance platforms, in addition to multinational firms.
kompany is an alumnus of Mastercard Begin Path, Plug and Play FinTech, Raiffeisen Financial institution Worldwide’s Elevator Lab, the Oracle Scale Up programme and founding member of the Worldwide RegTech Affiliation and the Austrian Blockchain Affiliation.
It’s headquartered in Vienna, Austria with workplaces in London, New York, and Singapore. kompany is a authorities licensed clearing home of registers with real-time entry to industrial registers, monetary and tax authorities worldwide. Discover out extra at kompany.com, or observe them on LinkedIn.
For additional info please contact:
Jan Pieter Zuijderduijn
Head of International Advertising
+ 43 (0) 699 150 45452
W2 have entry to main information and repair suppliers guaranteeing that updated and dependable info is out there through a spread of on-line APIs and rescreening options; enabling companies to fulfill regulatory necessities and make dependable knowledgeable selections about shopper and company prospects.
W2 supplies Know Your Buyer (KYC), anti-money laundering (AML), Know Your Enterprise (KYB) and ID Verification (IDV). W2 can present the fitting answer on a home and worldwide scale, for each level of acceptance and ongoing monitoring. W2 supply essentially the most buyer centered compliance answer out there, permitting lively administration of threat.