Through the agreement, Kyckr will provide its Know Your Customer (KYC) onboarding services to the client, the name of which has not been disclosed “due to the critical services provided by Kyckr to [the] client for KYC on-boarding services.” Through the indefinite agreement, the client will pay an annual fee of $150k for Kyckr’s corporate customer validation and verification services, which help improve KYC compliance-related obligations.
David Cassidy, Kyckr managing director said, “Our services demonstrate the relevance of our capabilities in multiple sectors, helping improve customer on-boarding, bringing about operational efficiencies and improved KYC compliance.”
Kyckr offers traditional APIs that provide direct access to over 150 business registries which, when combined with blockchain technologies, give immutable proof of a company’s information at the time of any transaction. The API helps establish a complete KYC decision by enabling companies to perform company searches, access company profiles and filings, cross-reference searches on directors, shareholders and others.
Above: Kyckr’s Ben Cronin, Joint CEO and Director and Cian Foley, Sr. Software Engineer, presenting at FinDEVr Silicon Valley 2016
Founded in 2007, Kyckr’s Ben Cronin, Joint CEO and Director, and Cian Foley, Sr. Software Engineer, gave a presentation titled Corporate Identity on the Blockchain to an audience of developers at FinDEVr Silicon Valley 2016. Last November, Prudential Singapore selected Kyckr as one of three fintechs for its PRU Fintegrate partnership program. Earlier that month, the company was named a Hackcelerator Finalist at the Singapore FinTech Festival.