Standard Chartered and KYC Launch Real-Time Verification

Standard Chartered Bank (Hong Kong) and Know Your Customer Limited have launched real-time KYC verification through the HKMA-led CDI platform. The collaboration, known as Standard Chartered and KYC Verification, automates compliance processes and enhances the accuracy of SME onboarding. By streamlining data retrieval and verification, it reduces turnaround time and improves risk assessment. This initiative supports digital transformation and strengthens operational efficiency across banking services.

By utilizing Know Your Customer’s advanced technology, Standard Chartered Hong Kong now automates the retrieval of essential company search data through an application programming interface (API) integrated with CDI. This not only helps the bank identify the ultimate beneficial owners (UBOs) of corporate clients more effectively but also improves risk assessment with greater precision.

Furthermore, the new solution streamlines the overall onboarding experience. It enables the bank to access relevant information for account opening directly from Know Your Customer in real time and consolidate it through CDI. As a result, Standard Chartered Hong Kong reduces the turnaround time for applications, boosts operational efficiency, and ensures a smoother journey for SMEs looking to open accounts. 

Standard Chartered and KYC Launch Real-Time Verification

Stephen Man, Head of Wealth Management and Retail Banking at Standard Chartered Hong Kong, emphasized the value of this partnership by stating, “The partnership with Know Your Customer is beneficial to the digital transformation and business development of Standard Chartered Hong Kong’s SME clients. Furthermore, as an active CDI participant, we are simplifying SMEs’ loan applications and reviews. This new initiative demonstrates our commitment to offering innovative banking solutions that facilitate better client experiences. By automating KYC via Know Your Customer, we’re speeding up SME account opening and enabling non-face-to-face account applications anytime, anywhere.” 

He also noted that leveraging alternative data through CDI allows the bank to design tailored loan solutions, ultimately supporting SME growth and contributing to the broader digital economy of Hong Kong. Claus Christensen, CEO and Co-Founder of Know Your Customer, added, “Through real-time registry integrations and intelligent automation, we are helping to make financial access faster, safer, and more inclusive.” He expressed pride in supporting future entrepreneurs and excitement in backing the HKMA’s digitalization efforts through this collaboration.

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