PWC Utilises DueDil to Automate KYB and AML Regulatory Checks

https://thefintechtimes.com/pwc-utilises-duedil-to-automate-kyb-and-aml-regulatory-checks/
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PwC has teamed up with DueDil,
which provides insights on over 5 million companies in the UK and
Ireland, to speed up mandatory KYB and AML checks for a PwC banking
client. The client now benefits from faster, more efficient
services with increased accuracy ensuring adherence to regulatory
requirements.

Checks that were previously conducted manually will now be

fully automated
using the DueDil API, enabling the client to
deliver an enhanced overall customer experience.

Mike Kennelly, PwC Director, said: “Our
clients need access to high-quality digital data to drive better
and faster credit decisions for their SME customers. Using
DueDil’s APIs we are able to access a wide set of valuable data
in realtime. PwC is always looking to work with partners that
disrupt existing processes and DueDil have proven ability to do
just that, so we are delighted to work with them.”

In addition, DueDil and PwC are working together using the
PwC’s Digital Ecosystem Banking sandbox, a project devised to
demonstrate the ease of shifting a legacy bank model to a
partnership banking model. The aim of the work between the two
firms is to improve regulatory compliance and improved access to
financial services for more Small and Medium Enterprises
(SMEs).

“Keeping up with the ever-evolving regulatory landscape and a
fast-moving competitive environment presents numerous challenges
for financial institutions,” said
JustinFitzpatrick, DueDil CEO. “Teaming up with
PwC to offer a seamless KYB solution to their clients will make it
easier for institutions to ensure they are compliant and avoid
unnecessary regulatory scrutiny. Using the DueDil API, PwC will be
able to provide a fully automated solution and a better customer
experience to financial institutions. The next wave of digital
transformation will reshuffle the competitive landscape. We’re
excited to be partnering with PwC and their clients during this
pivotal time in the market.”

Founded in 2011, DueDil is a company intelligence platform that
delivers insights on more than 5 million companies and the people
behind them. DueDil provides a complete view of the UK and Irish
market so the SME onboarding process is as robust as it is
frictionless. All of this is available in a single KYB for Life
platform that ensures compliant onboarding and proactive risk
monitoring.

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PWC Utilises DueDil to Automate KYB and AML Regulatory Checks

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