fscom Unveils Flagship RegTech Product, KYC-Pro

fscom Unveils Flagship RegTech Product, KYC-Pro
27.06.2017 10:15 am

fscom Unveils Flagship RegTech Product, KYC-Pro

RegTech

Today at Money 2020, fscom announced the official launch of its flagship RegTech tool, KYC-Pro, to simplify and streamline the client on-boarding process for FinTechs, while ensuring they meet their regulatory obligations.

Despite strong growth in the FinTech industry, one of the biggest challenges facing companies is the administrative burden of on-boarding. Complex anti-money laundering requirements, and the heavy fines for non-compliance, make acquiring and retaining new customers a major headache for FinTechs. To deal with this, more and more FinTechs are turning to technology to speed up the process, without realising that the solution they adopt may not guarantee regulatory compliance.

Unlike most RegTech solutions, KYC-Pro has been developed by compliance experts, who understand the real life difficulties FinTechs face. Combining fscom’s expert knowledge of financial services regulation with the best databases and intuitive technology, means compliance officers can rest assured they are adhering to their regulatory duties when they use KYC-Pro.

Philip Creed, Director at fscom and Head of KYC-Pro, comments, ‘Regulatory pressure is stifling the growth of the UK’s FinTech industry. The problem with many of today’s RegTech solutions is they’re little more than data collators. We know our customers need more than that. They need RegTech solutions that integrate smoothly with their systems, save them time and, most of all help, keep them remain compliant. That’s exactly what KYC-Pro does.”

KYC-Pro enables customers’ to access to over 127 million companies worldwide, conduct individual AML checks across more than 20 countries and cross-reference potential customers against international PEPs and Sanctions lists, returning full details of returned records. Meanwhile, its meticulously designed APIs and user friendly dashboard improves customer experience.

Businesses attending the conference in Copenhagen have been invited to test the product for themselves. For those FinTechs that can’t make it, a 14-day free trial is available.

Related News

Kompli-Global helps companies expose bad actors within their customer base

Every major organisation in the United Kingdom has customers that are up to no good, potentially with criminal intentions. Fraudsters and money launderers are clever and, once... Read more »

RegTech and SupTech: Innovation, Evolution and FCA development

In the latest episode of the RegTech 20:20 podcast from... Read more »

AML specialist SmartSearch breaks into US market

Leading UK anti-money-laundering (AML) firm SmartSearch is today launching operations in the USA.

Expansion into the US market follows a period of... Read more »

Cloud9 and SteelEye Partner to Address Voice Trading Compliance Challenges amid Remote Working Conditions

Cloud9 Technologies (“Cloud9”), a leader in cloud-based communications, has integrated with SteelEye, a leading regulatory technology and data analytics provider, to offer the... Read more »

Kompli-Global partners with Crucial Compliance to help gaming operators act responsibly

Kompli-Global, the leading RegTech AML and Social Responsibility specialist, announced... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel