- CRIF and Know Your Customer will help Ping An OneConnect (Hong Kong) Limited enhance digital onboarding for its SME customers.
- CRIF and Know Your Customer have collaborated since forging a global commercial partnership in 2021.
- Headquartered in Bologna, Italy, CRIF made its Finovate debut at FinovateEurope in 2014.
Banking credit information provider CRIF and regtech Know Your Customer have partnered to help Ping An OneConnect Bank (Hong Kong) Limited (“PAOB”) improve the digital onboarding process for its SME customers.
CRIF and Know Your Customer have developed a new system that uses real-time registry connections to automatically retrieve documents and map shareholders. The solution provides a centralized place to integrate data from multiple official sources which enables PAOB to streamline the onboarding process for its clients. In addition to leveraging automation to lower costs and reduce the amount of manual labor involved, the new offering supports on-going monitoring requirements, as well. Both CRIF and Know Your Customer offer a wide range of compliance solutions: CRIF provides a portfolio of business data and intelligence, including credit and ESG data. Know Your Customer provides real-time registry connections, Ultimate Beneficial Owner mapping across borders, and modular workflow capabilities.
Ivan Chow, Head of Strategy & Partnerships at PAOB highlighted the challenges facing regional SMEs in the immediate, post-COVID economic environment. Chow noted that the re-opening of places like Hong Kong is not only likely to feature increased business activity, but also increased demand for operating capital financing. “The partnership with CRIF and Know Your Customer will further enhance our customer-centric experience to the SME customers,” Chow said.
The partnership between CRIF and Know Your Customer extends back to 2021. The two companies announced a global commercial partnership in August of that year to help financial institutions pursue their digital transformation objectives. The alliance will combine CRIF’s KYC data offering with Know Your Customer’s platform to facilitate digital corporate onboarding for financial institutions. The agreement also featured a strategic financial investment in Know Your Customer. The amount of the investment was not disclosed. The company said the capital will help it further develop the AI and automation features of its technology.
Founded in 1988, CRIF is headquartered in Bologna, Italy. The company operates in more than 40 countries and includes more than 10,000 financial institutions and 600+ insurance companies among its customers. CRIF made its Finovate debut at FinovateEurope in 2014.
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- Source: https://finovate.com/crif-and-know-your-customer-team-up-with-ping-an-oneconnect-bank-to-boost-digital-onboarding-for-smes/
