Experian, the data and technology company, announced the acquisition of KYC360 in the United Kingdom as well as Ireland, which will aim to enhance its fraud and financial crime compliance solutions. Know Your Customer (KYC) and Know Your Business (KYB) are said to be foundational pillars of financial crime prevention, requiring organisations to “verify and update customer and business information throughout the lifecycle.”
KYC360’s suite of Customer Lifecycle Management solutions will support these critical processes enabling customers to “onboard, screen and maintain data across the customer base.”
These capabilities will now be integrated into Experian’s Ascend platform and made available from next year. With KYC360 integrated into Experian, clients will benefit from better “compliance, faster onboarding and reduced operational costs, all of which will create a frictionless experience that also strengthens their financial crime defenses across the entire customer lifecycle.”
Stephen Platt, Founder and CEO of KYC360, commented said that this partnership provides an opportunity to drive advancements in the fight against financial crime, helping to “protect even more clients and their customers.”
Together, they are committed to ensuring “that the customer experience remains seamless, while setting standards for security and compliance in the industry.”
As covered, Experian is a data and technology company, enabling opportunities for people and businesses. They help to redefine lending practices, “uncover and prevent fraud, simplify healthcare, deliver digital marketing solutions, and gain deeper insights into the automotive market, all using our unique combination of data, analytics and software.”
They currently operate across a range of industries, from financial services to healthcare, automotive, agrifinance, insurance.
They intend to invest in talented people and technologies to unlock the power of data. They have a team of 25,200 people across 32 countries. Their corporate headquarters are in Dublin, Ireland.
KYC360 is a key player in regulatory technology, focusing on anti-financial crime solutions that help businesses “achieve compliance while enhancing their commercial performance.”
Its onboarding, screening, and lifecycle management solutions are utilised by organisations across sectors, such as financial services, insurance, legal, gaming, telecommunications.
Established by a founder of the International Compliance Association, KYC360 enables businesses to manage financial crime risk, allowing them to operate efficiently and deliver a better customer experience.