First AML, a provider of anti-money laundering (AML) technology solutions, has formed a strategic partnership with Know Your Customer, a company specializing in business verification tools. The collaboration aims to enhance Know Your Business (KYB), Know Your Customer (KYC), and AML compliance processes for financial institutions and other regulated entities operating internationally.
As part of the partnership, Know Your Customer’s registry technology has been integrated into First AML’s platform, Source. This integration enables users to access real-time company registry data from more than 140 jurisdictions. Features include corporate structure verification, access to official company documents, and automated identification of beneficial ownership, all accessible within the Source platform.
According to First AML, the integration is intended to help reduce manual steps in the KYB process, streamline onboarding, and improve compliance outcomes. Bion Behdin, Chief Revenue Officer and Co-Founder of First AML, stated that the embedded capabilities aim to support automation of KYB procedures at scale while reducing complexity.
The enhanced platform functionality is designed to assist organizations in managing cross-border compliance requirements, applying uniform verification standards, and minimizing time spent on manual data sourcing.
Claus Christensen, CEO and Co-Founder of Know Your Customer, highlighted that the partnership is expected to provide businesses with customizable verification solutions that align with their operational and regulatory needs.
The joint solution is targeted at financial services, legal, and professional services firms operating in multiple jurisdictions. It is positioned to help these organizations maintain regulatory compliance while improving the efficiency of client onboarding and monitoring workflows.
This development comes amid heightened global regulatory scrutiny and the increasing complexity of financial crime prevention.
Your source for supply chain report news updates: The Supply Chain Report. For international trade insights and tools, head to ADAMftd.com.
#AMLCompliance #KYCPartnership #GlobalCompliance #KYBRegulations #FinancialSecurity #AntiMoneyLaundering #KnowYourCustomer
