Crosscard has selected RegTech provider Know Your Customer to digitize, centralize and streamline its corporate KYC and onboarding process.
Crosscard is a leader in European digital issuing solutions and offers payment products that put a business in control of how, where and when they spend money within their business. Crosscard is a reliable partner and holds an e-money license awarded by the Luxembourg-based CSSF and is a principal member of Mastercard.
By utilizing both virtual and physical cards, Crosscard enables organizations to manage budgets efficiently and control company expenses in one go.
The Know Your Customer back-end compliance platform now provides Crosscard with a direct connection to official company registries, official document retrieval in real time, instant identification of Ultimate Beneficial Owners (UBOs) and multiple outreach tools for ID verification of clients’ shareholders to achieve a fully compliant and highly customer-friendly onboarding experience for its vast range of European customers.
John Gavin, Chief Operating Officer at Crosscard, commented:
“The traditional approach to business verification of corporate clients has too often overlooked the importance of providing a fully digital and seamless customer experience. Through RegTech innovation, we can address the issue while reinforcing the strength of our compliance processes. Know Your Customer’s solutions will play a pivotal role in our strategy to streamline, centralise and accelerate the onboarding process for our corporate clients”.
Claus Christensen, CEO & Co-Founder of Know Your Customer, added:
“As the European Union continues to make the fight against money laundering a key priority for its member states, having solid RegTech solutions like Know Your Customer in place will be of vital support to sustain the growth of FinTech companies and ensure on-going compliance across jurisdictions. Being a long-established organisation with a solid track record in the payments and digital issuing space, Crosscard is a key player on the European FinTech scene, and we look forward to supporting their current and future growth”.
