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CRIF and Know Your Buyer will assist Ping An OneConnect (Hong Kong) Restricted improve digital onboarding for its SME prospects.
CRIF and Know Your Buyer have collaborated since forging a world business partnership in 2021.
Headquartered in Bologna, Italy, CRIF made its Finovate debut at FinovateEurope in 2014.
Banking credit score data supplier CRIF and regtech Know Your Buyer have partnered to assist Ping An OneConnect Financial institution (Hong Kong) Restricted (“PAOB”) enhance the digital onboarding course of for its SME prospects.
CRIF and Know Your Buyer have developed a brand new system that makes use of real-time registry connections to mechanically retrieve paperwork and map shareholders. The answer supplies a centralized place to combine knowledge from a number of official sources which allows PAOB to streamline the onboarding course of for its purchasers. Along with leveraging automation to decrease prices and cut back the quantity of handbook labor concerned, the brand new providing helps on-going monitoring necessities, as nicely. Each CRIF and Know Your Buyer provide a variety of compliance options: CRIF supplies a portfolio of enterprise knowledge and intelligence, together with credit score and ESG knowledge. Know Your Buyer supplies real-time registry connections, Final Helpful Proprietor mapping throughout borders, and modular workflow capabilities.
Ivan Chow, Head of Technique & Partnerships at PAOB highlighted the challenges dealing with regional SMEs within the rapid, post-COVID financial surroundings. Chow famous that the re-opening of locations like Hong Kong just isn’t solely prone to function elevated enterprise exercise, but additionally elevated demand for working capital financing. “The partnership with CRIF and Know Your Buyer will additional improve our customer-centric expertise to the SME prospects,” Chow mentioned.
The partnership between CRIF and Know Your Buyer extends again to 2021. The 2 corporations introduced a world business partnership in August of that 12 months to assist monetary establishments pursue their digital transformation goals. The alliance will mix CRIF’s KYC knowledge providing with Know Your Buyer’s platform to facilitate digital company onboarding for monetary establishments. The settlement additionally featured a strategic monetary funding in Know Your Buyer. The quantity of the funding was not disclosed. The corporate mentioned the capital will assist it additional develop the AI and automation options of its expertise.
Based in 1988, CRIF is headquartered in Bologna, Italy. The corporate operates in additional than 40 nations and contains greater than 10,000 monetary establishments and 600+ insurance coverage corporations amongst its prospects. CRIF made its Finovate debut at FinovateEurope in 2014.
Picture by Jimmy Chan
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