Kyckr and Blacksmith KYC enable plug-and-play client onboarding

By Gloria Methri

Corporate KYC company, Kyckr has announced its partnership with Blacksmith KYC, the RegTech venture of ING Bank.  The partnership allows Blacksmith’s clients to access real-time data retrieval and registry connection – significantly reducing client onboarding and review processes that otherwise take several months.

Kyckr provides its customers and partners real-time access to aggregated corporate Know Your Customer (KYC) and Ultimate Beneficial Owner (UBO) data from over 300 company registries and primary regulated sources worldwide.

This data allows companies to understand their customers and suppliers better, minimising exposure to commercial risk, preventing financial crime like money laundering, and ensuring regulatory compliance.

Blacksmith, with policy digitalisation as the core of its solution, offers ING Bank and its other clients a single platform to digitalise and automatically apply their policy requirements in the KYC process. With their DataHub and Digital Policy Manager, Blacksmith cuts the efforts to create CDD files in half and enables its clients to stay compliant with changing regulations.

Nynke Postma, CEO of Blacksmith, said, “Our integration with Kyckr gives our clients access to real-time data from over 300 primary regulated sources. On top of this, it enables them to put their KYC teams back within their strength. Rather than manually collecting and processing large amounts of data from a large variety of data sources, they can now focus their efforts on risk analysis.”

Ian Henderson, CEO of Kyckr, added, “Partnering with Blacksmith means a more integrated solution for businesses that want to verify the provenance of their customers and suppliers. There is greater awareness today across all sectors that KYC is not just for regulated businesses. It is essential to risk management and wise data-led decision-making. Our API enables greater integration and automation across the RegTech industry, which is good for legitimate businesses and bad for financial criminals.”