Technology and payments specialist Equiniti Group has launched an enhanced know your customer (KYC) service for asset-based and invoice finance lenders.
The product offers lenders a robust, scalable, and personalised solution to KYC challenges. It will deal with all aspects of the process, from customer onboarding and complex due diligence investigations, through to large-scale remediation projects.
“This enhanced KYC service will be a huge step forward in fraud detection and anti-money laundering in the asset-based and invoice finance lending industry,” said Michael Ellis, head of commercial at Equiniti Riskfactor.
“Equiniti Riskfactor is the go-to provider of risk management and fraud analytics, with over 90 per cent of the receivables finance market using our market-leading Equiniti Group Riskfactor product.
“This enhanced KYC proposition complements the existing services we provide for our customers and we look forward to seeing first-hand the benefits it brings them.”
“We are delighted to provide a service that is of invaluable use to lenders in the invoice finance and asset-based lending facilities,” said Chris Adams, head of product at Equiniti Group Digital.
“We are now able to offer our customers improved automation as we further develop our technological capabilities.
“Our managed service continues to differentiate us within the industry – it proves our commitment to meaningfully reducing risk for our customers and increasing their return on investment.”