Know Your Customer Limited, a provider of automated business verification solutions, has partnered with DBS Hong Kong to streamline its SME onboarding processes.
The collaboration aims to simplify business Know Your Customer (KYC) procedures, addressing the traditionally manual and complex processes involved in verifying corporate structures and ownership.
Using Know Your Customer’s digital compliance platform, DBS Hong Kong will gain real-time access to business verification data, including official company documents and automated identification of ultimate beneficial ownership (UBO) networks across more than 140 jurisdictions.
The AI-powered platform reduces manual effort, accelerates onboarding timelines, and improves operational efficiency for business clients.
Lareina Wang, Head of SME Banking at DBS Hong Kong, said:
“This collaboration represents a major advancement in automating SME onboarding processes that have historically been complicated and manual, solidifying DBS’s SME banking position in Hong Kong.”
Claus Christensen, CEO and Co-Founder of Know Your Customer, added:
“With our global data coverage and AI-powered automation, we empower DBS Hong Kong to accelerate KYC processes and provide business customers with an improved onboarding journey.”
Featured image credit: Edited by Fintech News Hong Kong, based on image by nampix via Freepik
