Canadian regtech company iComply Investor Services announced on Wednesday it is launching an updated version of its iComplyKYC platform for digital compliance administration. According to iComply, the platform now supports the onboarding and authentication of legal entities and natural persons as a part of its all-in-one compliance solution.
iComply further revealed that iComplyKYC offers a standalone system to manage the full lifecycle of KYC and AML administration for each client. Matthew Unger, CEO of iComply, stated:
“The latest directives from the Financial Action Task Force (FATF) have broadened AML requirements to include law firms, accounting, eCommerce, luxury sales and M&A transactions. Further, new requirements for work-from-home have complicated the day-to-day compliance operations of most of the market, and ‘digital first’ is no longer a nice-to-have, but a necessity.”
Unger then noted:
“Integrating edge computing and artificial intelligence into the KYC portal reduces the total cost of compliance and improves user privacy, cybersecurity and straight-through processing capabilities. Businesses can no longer afford to mess with half a dozen onboarding tools and APIS, the market needs a banking grade digital identity and risk management solution that can be set up in hours.”
Founded in 2017, iComply claims to be the leading global compliance platform for digital finance. The company provides its clients with turnkey compliance automation by simplifying multi-jurisdictional requirements for non-face-to-face transactions to liberate capital, ideas, and opportunities.
“iComply enables the transparency, integrity, and accessibility required to make financial markets digitally accessible to everyone. We offer intelligent compliance management solutions in the form of institutional-grade identification and risk mitigation tools that support AML compliance for the entire customer lifecycle.”
iComply also claims that its compliance management solutions offer institutional-grade identification and risk mitigation tools that support the complete AML compliance lifecycle for clients in industries ranging from professional services to online banking, capital markets, payment processing, trading platforms, virtual assets, as well as government and enterprise.