PassFort strengthens KYB automation

PassFort has enhanced its Know Your Business (KYB) offering with the addition of data from Orbis, an entity database from Bureau van Dijk, a Moody’s Analytics company.

Posted by: 
Alexis Fox-Mills
  |  
Jan 7, 2021

PassFort strengthens KYB automation for financial institutions with addition of data from Bureau van Dijk, a Moody’s Analytics company

London, January 6, 2021: PassFort, a provider of automated customer lifecycle management (CLM) solutions to the financial services industry, has enhanced its Know Your Business (KYB) offering with the addition of data from Orbis, an entity database from Bureau van Dijk, a Moody’s Analytics company.

The integration of Orbis data with the PassFort platform enables customers conducting due diligence when onboarding new corporate clients to swiftly capture entity information, and make better decisions with increased efficiency.

The Orbis database has information on close to 400 million entities worldwide, providing a powerful KYB resource for entity data. Financial institutions can use it to automate corporate compliance checks and simplify lengthy and complex corporate onboarding processes.

“Orbis offers extensive company information and corporate structures, combined with information on PEPs, sanctions and adverse news, to deliver new levels of certainty on third parties being onboarded.” Said Donald Gillies, CEO and Co-Founder of PassFort. “We have worked with Bureau van Dijk for a number of years and are delighted to bring Orbis to our KYB offering to make corporate onboarding and risk monitoring processes vastly more efficient for our customers.”

Through the new integration with Orbis, PassFort customers can complete company data, company ownership and company registry checks. The resulting report is automatically returned to the PassFort platform for compliance analysts to review.

About PassFort

PassFort helps financial institutions digitally transform their Customer Lifecycle Management processes to achieve a perfect balance between complete compliance and great customer experience.

Headquartered in London and founded in 2015, PassFort has now supported its clients to onboard more than 5 million customers worldwide.

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