It is now one month to go before the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) publishes regulations regarding mandatory beneficial ownership reporting requirements as required by the Corporate Transparency Act. Let’s look at how this compares with the EU’s experience with UBO registers and whether there are any lessons to be learned.

Earlier this month, Dermot Corrigan (CEO, smartKYC) and Hugo Chamberlain (COO, smartKYC) hosted a webinar in partnership with ACAMS. ACAMS is the largest global membership organization dedicated to fighting financial crime.

On 21 May this year, the FCA wrote an open letter to CEOs of the retail banking industry in the United Kingdom. The letter highlighted a range of shortcomings with regard to their financial crime systems and controls.

smartKYC, the world’s most advanced enterprise solution for KYC due diligence automation, has today announced the addition of the Hindi language and script to smartKYC’s multilingual Natural Language Processing technology. smartKYC’s technology now processes and analyses over 35 different languages in multiple writing systems including Latin, Chinese, Arabic and Devanagari.

Private banks and wealth managers face unique KYC screening demands. Their clients will often require a more enhanced background check due to their association with certain jurisdictions or sectors, the sophistication of their banking and investment needs or their raised public profile.

Financial institutions face the challenges of achieving seamless client onboarding and ever evolving regulatory hurdles due to huge work loads, expensive staffing costs and inefficiencies caused by outdated processes and human error.

LONDON, UNITED KINGDOM: 14 July 2021 – smartKYC, the world’s most advanced enterprise solution for KYC due diligence automation, has announced a strategic, data partnership with kompany, the global RegTech platform for business verification and Business KYC (KYB) for AML compliance.

Automation is vital in the modern financial services world, simplifying regulatory compliance and handling enormous amounts of data.

smartKYC is delighted to announce that we have been shortlisted in FIVE categories at the RegTech Insight APAC Awards 2021.

The Computing AI & Machine Learning Awards recognise the best companies, individuals, and projects in the AI space today. The awards cover every corner of the industry: security, ethics, data analysis, innovation and more, as well as showcasing the movers and shakers: the technology heroes and projects that deserve industry-wide praise.  Tom Allen, Delta Site

smartKYC, the world’s most advanced enterprise solution for KYC due diligence automation, today announced it has been recognised by the RegTech Insight Awards 2021 Europe as the “Best AI Solution for Regulatory Compliance” award winner for a 2nd year in a row.

Over the last couple of months I had the pleasure of speaking at two events hosted by Procurement Leaders as part of its “Innovation:In” series. Procurement Leaders is a global community of senior procurement and supply chain leaders, attracting over 1000 attendees to each event in this series .