TransactionLink has announced its partnership with Know Your Customer in order to optimise the compliance and onboarding processes for FIs in Europe. Following this announcement, TransactionLink is expected to integrate its onboarding automation platform with Know Your Customer’s KYC API and real-time data into its business logic builder.

This process is set to result in a comprehensive and secure automated user journey creator for their clients. By combining the expertise and suite of solutions of both platforms, the collaboration will focus on delivering a streamlined and efficient experience for compliance teams, their small and medium-sized enterprises (SMEs), and corporate clients across the region of Europe. More information on the partnership TransactionLink represents a KYB onboarding automation platform for FIs and online marketplaces, and it provides a solution that optimises the way businesses and companies expand across multiple geographic areas around the world, as well as reducing onboarding costs without the need for complex engineering incorporation.

Know Your Customer is a regtech company specialising in business verification tools for financial institutions, as well as regulated organisations worldwide. As the demand for robust business KYC and Know Your Business (KYB) processes continues to develop, it has become increasingly important for institutions and organisations to implement secure and comprehensive onboarding procedures. At the same time, the complete corporate onboarding processes often require additional steps, including the procedure of gathering supplementary user data, assessing risk levels, and conducting anti-fraud checks.

In order to meet the needs, preferences, and demands of customers and users, the partnership between TransactionLink and Know Your Customer will focus on giving financial businesses the ability to use optimised technology. In addition, the clients will remain compliant with the regulatory requirements, while also mitigating risks and ensuring improved corporate onboarding processes. By simplifying and automating the overall business KYB and KYC procedures, both firms are expected to optimise the manner in which organisations focus on their core competencies and drive development in 2024.

At the same time, both companies will focus on providing customers with comprehensive company data, especially for those that have a global-first perspective. The KYC’s API will be leveraged in order to connect clients with jurisdictions that are typically challenging for firms and users alike. In addition, by using real-time access to the worldwide registry through the REST API solution and integrating it with TransactionLink’s automation capabilities, FIs will be enabled to implement efficient and compliant KYB procedures in order to reduce manual effort and optimise the overall customer experience.

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