OFX, a leading financial operations company, announced a collaboration with Know Your Customer Limited, the global leader in business verification solutions.
This collaboration will enable Know Your Customer’s advanced verification technology to be used by OFX, enhancing security and streamlining compliance for OFX users.
Through this collaboration, OFX will leverage Know Your Customer’s capabilities to simplify and automate its business Know Your Customer (KYC) processes. This will provide OFX with real-time access to comprehensive business verification data, including seamless corporate structure verification, instant access to official company documents, and automatic identification of complex beneficial ownership structures across over 140 jurisdictions.
This process automates key business KYC processes, significantly reducing manual effort and improving efficiency for OFX users, further strengthening OFX’s ability to manage risk and maintain the integrity of its platform.
”OFX is committed to providing our customers with a secure and efficient global payment experience. By using Know Your Customer's technology, we're enhancing our ability to mitigate risks and maintain a high standard of compliance. The real-time access to global registry data, automated documentary evidence, and streamlined processes will strengthen our KYC procedures, reinforcing our commitment to a secure and reliable platform.
Jason SullivanHead of Operations, EMEA at OFX
”We are excited to partner with OFX and equip them with a strategic advantage in the global payments landscape. Our advanced business verification technology will empower OFX to elevate its security posture, streamline and automate compliance workflows, and deliver an unparalleled payment experience to its customers.
Jamie AndersonManaging Director EMEA, Global Head of Sales
Recognising the importance of a robust and secure global payment environment, and in light of Australia’s expansion of AML/CTF regulations from sectors like financial services and digital currency exchanges to designated non-financial businesses and professional sectors, OFX is proactively strengthening its security infrastructure through this collaboration. By utilising Know Your Customer’s technology, OFX will enhance its due diligence capabilities, ensuring compliance with evolving regulations, providing a secure, reliable platform for global payments.
This collaboration reinforces both OFX’s and Know Your Customer’s commitment to innovation, security, and adherence to evolving compliance regulations in the global financial landscape.