Earlier in the summer Cylex which is a leading business information directory offered to interview us in order to find out a bit more of what we do.
We hope you enjoy the read….
Today we have the pleasure to sit with one of the new players within the KYC space who is looking to not simplify KYC searches but truly reduce the operational cost of carrying out the “Know Your Customer” process
Cylex: What is the idea behind KYC Lookup?
William Bolivar– Founder of KYCLookup.com: The idea of KYC-Lookup is the result of having to carry out multiple searches, translate websites or having to request information from customers when in fact it was all available in the public domain. KYC-Lookup has collected and aggregated the data/sources required to simplify and streamline the KYC process and increase productivity within onboarding teams without putting at risk the regulatory AML requirement.
Cylex: Who can use your services and how do they sign up?
William Bolivar– Founder of KYCLookup.com: The service is available to everyone who wants to look up a registered entity in one of the jurisdictions we cover, at the moment it’s predominately KYC analysts, AML Compliance officers and Salespeople within financial institutions who are benefiting from our service. Signing up is currently completely free, the intention is to be able to open up the corporate world and make it easier for analysts to source information without the need of paying expensive fees, being tied down to lengthy contracts or searching for information across different websites which can be time consuming, most importantly using KYC-Lookup will reduce the number of times a customer is contacted for documentation.
Cylex: How do you get hold of Company Overviews?
William Bolivar– Founder of KYCLookup.com: At the moment KYC Lookup covers over 100 jurisdictions from around the globe with all the information available being pulled directly from the local company registries. The API technology aggregates all the data together making it easier to find as a result of a single search via our website.
Cylex: Why is it important to know the clients?
William Bolivar– Founder of KYCLookup.com: Know Your Customer or KYC as it’s commonly known is the single most important factor before entering a financial transaction with a customer. Performing the right level of diligence can help to prevent a financial institution being used for Money Laundering purposes, KYC also helps to understand and maintain an up to date record of your customer. In the past decade, we have seen a number of banks and financial institutions being penalised and fined for having poor client KYC records.
Cylex: Are there any future plans you have in relation to the development of your company?
William Bolivar – Founder of KYCLookup.com: Yes, at the moment we are working on enhancing the customer experience by including more jurisdictions to our entity search as well as working on a Legal Entity Identifier search (LEI), by adding the LEI lookup functionality it will help our users to find basic information on other entity types by having information such as Full legal name, address, LEI number, Jurisdiction etc. At KYC-Lookup we want to become the golden source for KYC initiations so we will always work to find new functionalities which will assist with the overall onboarding process.
Why Use KYCLookup? For three simple reasons… You don’t need to know who is the local registry is. No need to speak the local language in order to translate the websites. No need to know the full legal name of the entity being onboarded. With one single search you have the capability at the tip of your fingers to have instant access to company information from around the world, most importantly all our data is from Primary sources and we always add the link to the publisher in order for the end user to be able to access it as well.
Interview published by: https://www.cylex-uk.co.uk/company-interviews/kyc-lookup_25826437.html