Global data and technology company Experian has announced the acquisition of KYC360 in the UK and Ireland, a strategic move designed to significantly enhance its fraud and financial crime compliance capabilities. The acquisition brings together compliance expertise with advanced financial crime innovation for the UK and Irish markets.
Know Your Customer (KYC) and Know Your Business (KYB) are foundational pillars of financial crime prevention, requiring continuous verification and updating of customer and business information throughout the lifecycle. KYC360’s suite of Customer Lifecycle Management (CLM) solutions will support these critical processes, allowing clients to onboard, screen, and perpetually maintain data across their entire customer base.
Faster onboarding, optimised compliance
The newly acquired capabilities will be fully integrated into Experian’s Ascend platform and made available starting next year. With KYC360 seamlessly integrated, clients stand to benefit from optimised compliance, faster onboarding, and reduced operational costs. This integration aims to create a frictionless customer experience while simultaneously strengthening financial crime defenses across the entire customer lifecycle.
Malin Holmberg, chief executive officer of Experian UK&I, stated that the acquisition reinforces the company’s commitment to providing innovative solutions in the fight against financial crime. “The addition of KYC360 significantly boosts our capabilities, allowing us to deliver even greater value to our clients and accelerate our growth,” Holmberg added.
Setting new standards for security
KYC360, established by a founder of the International Compliance Association, specialises in anti-financial crime solutions that help businesses achieve compliance and enhance their commercial performance. The platform’s advanced solutions are utilised across various sectors, including financial services, insurance, and legal.
Stephen Platt, Founder and CEO of KYC360, commented that the partnership provides a tremendous opportunity to drive innovation. “Together, we are committed to ensuring that the customer experience remains seamless, while setting new standards for security and compliance in the industry,” Platt said.
