Smart technology client verification solution provider Know Your Customer (KYC) has received investment of €250,000 from Enterprise Ireland. The investment will be directed towards growth in key Asian markets, particularly mainland China, Hong Kong and Singapore.
Know Your Customer provides digital solutions which quickly and accurately identify and verify companies and individuals prior to client on-boarding. The comprehensive client identity verification solutions from KYC are making compliance officers’ lives easier by helping with compliance, risk and client on-boarding functions, ensuring companies can accurately and confidently conduct their KYC and anti-money laundering (AML) functions.
KYC’s digital solutions maximise compliance teams’ efficiency and capacity, meaning companies can scale without increasing costs, and importantly, bringing onboarding times of corporate clients down from three weeks, to just ONE day!
The Irish Advantage:
Since 2014 Enterprise Ireland has invested in more than 80 FinTech startups with its portfolio generating more than €1bn in revenue in 2016. Know Your Customer CEO, Claus Christensen said of the investment;
“Enterprise Ireland, and particularly their FinTech team, have an outstanding international reputation for making sound investments in high-potential Irish businesses. We are proud to be an Irish FinTech company, and extremely proud to receive this investment from Enterprise Ireland. As we expand into Asia, we are certainly feeling the #irishadvantage, as Enterprise Ireland team members guide us through the region and make invalaubale connections on our behalf.”
He went on to say;
“Numerous financial institutions from mainland China are now expanding overseas; Hong Kong is where they graduate from the Chinese regulations to the global ones, and we will be there to help them”.
The Future of FinTech:
Earlier this month Enterprise Ireland hosted its inaugural ‘Future of FinTech’ event which coincided with MoneyConf and saw 40 Irish FinTech companies and more than 100 influential international buyers convene to discuss the future of the industry. Know Your Customer, Aid:Tech, Cambrist, Governor Software, Extreme Push and Touch Tech, amongst other Enterprise Ireland clients were invited to present at the event.
Eoin Fitzgerald, Senior Development Advisor (FinTech) at Enterprise Ireland says of the investment;
“Enterprise Ireland are very keen to support the continued growth of Know Your Customer through this investment. The company has demonstrated the quality of its solution and team through the deals it has signed across Ireland, UK and particularly in Asia. The company is another very strong RegTech company being built out of Ireland and directly reflects the high potential and innovative solutions that Enterprise Ireland focuses on supporting. We look forward to supporting the growth of Know Your Customer as it increases its presence and sales in international markets”.