iKyc- In-Depth Profiles for Informed Decisions

iKyc

iKyc is a RegTech web application designed to provide comprehensive profiles of individuals, including detailed information on political affiliations, legal cases, and personal and professional associates.

OBJECTIVE:

iKyc is a RegTech web application designed to deliver due diligence for individuals in Hong Kong and China. It provides detailed insights into individuals, associates, political affiliations, sanctions and legal cases, enabling clients to make informed decisions.

PROBLEM STATEMENT:

Businesses operating in Hong Kong and China face significant challenges due to the lack of specialized due diligence products tailored to the region’s unique regulatory, cultural, and geopolitical landscape. Manual processes for Know Your Customer (KYC), vendor onboarding, business partnerships, NGO assessments, and legal due diligence are time-consuming and prone to inaccuracies, often delaying critical decisions. Furthermore, stringent data privacy laws such as the Personal Information Protection Law (PIPL) in China and the Personal Data Privacy Ordinance (PDPO) in Hong Kong necessitate a compliance-first approach, while the region’s dynamic geopolitical environment adds complexity to risk assessments.

SOLUTION :

iKyc addresses the challenges of enhanced due diligence in the Hong Kong and China markets by leveraging our ML model, which investigates reliable sources, including public records, legal databases, political records, and news archives. This model flags individuals based on the established framework, enabling users to quickly search and access detailed individual profiles and gain critical insights to support their decisions. iKyc is utilized by Fortune 10 insurance companies, consulting firms, and legal organisations.

IMPACT:

iKyc has significantly enhanced transparency and accountability in the Hong Kong and China markets through real-time, search engine-enhanced due diligence flagging. This capability has enabled our clients to improve efficiency by making real-time decisions. This innovation earned the FinTech Awards 2022 in the RegTech category, presented by Cyberport and HKETNet, further solidifying iKyc’s impact and excellence in the industry.