Tag Archives: Compliance

Appointments, Law, News

Laytons ETL’s John Gavan hands compliance baton to disputes partner Ben Thorogood

The City of London-based international law firm Laytons ETL has appointed partner Ben Thorogood as its new Compliance Officer for Legal Practice (COLP). Mr Thorogood takes over from partner John Gavan, who held the role from its inception 11 years ago.

As COLP, Mr Thorogood will be responsible for ensuring Laytons ETL’s compliance with the terms of its authorisation by the Solicitors Regulation Authority (SRA), and for ensuring that the firm, its managers, employees and interest holders comply with any SRA regulations which apply to them.

Ben Thorogood joined Silverman Sherliker, which merged with Laytons in 2017, as a paralegal in 2012. He trained with the firm, qualifying in 2015, and was appointed a partner at Laytons ETL in 2022.

Commenting on his appointment, Mr Thorogood said, “I am grateful for the immense contribution made by John Gavan during his tenure as COLP.

“I am committed to providing the firm, and those engaged within it, with the support required to uphold the highest professional and ethical standards, and to maintain an effective and dynamic legal practice.”

The firm’s previous Compliance Office for Legal Practice, John Gavan, is stepping back to focus on his practice which spans the firm’s corporate, employment and tax groups. A former main board director of a FTSE 350 company, and previous chairman and managing partner of Laytons, Mr Gavan has advised both employers and employees on share incentive schemes for over 30 years, and specialises in matters where corporate law, corporate governance, employment law, and tax interact.

His tenure as COLP spanned the pandemic, and the associated challenges of adapting compliance procedures to new remote working practices, and, in 2021, the firm’s integration into the international professional services group, ETL Global.

Mr Gavan said, “It has been an honour to serve as Laytons’ first Compliance Officer for Legal Compliance, and to play my part in maintaining, through one of the most turbulent periods in post-war history, the exemplary professional standards for which our firm is known.

“I can’t think of anyone better than Ben to take over the role and I am sure he will be more than capable of tackling whatever challenges may come his way as the world changes, working practices continue to evolve, and the regulation of our profession adapts accordingly.”

Michael Kashis, Managing Partner CEO at Laytons ETL, said, “’After 11 years of dedicated service, since the role was introduced, John Gavan will be stepping down from the role of Compliance Officer for Legal Practice. We are deeply grateful for John’s unwavering commitment and invaluable contributions to ensuring our compliance and upholding the highest legal standards.

“Ben Thorogood brings a wealth of experience and a strong understanding of compliance requirements to this position. We are confident that Ben as COLP will continue to uphold our firm’s standards of excellence and integrity in this new capacity.”

Accountancy & Accounts, Finance and Banking, News, Tax

HURST expands with new private client tax service

Independent accounting and business advisory firm HURST has launched a private client tax service to enhance its offering to business owners, entrepreneurs and high net worth individuals.

Karen Chadwick, who has 30 years’ experience in the field, has joined HURST as a partner to lead the new offering.

She has moved from Azets, where she was a tax partner. She previously worked at firms including Deloitte, KPMG and CLB Coopers.

During her career, Karen has gained a wealth of personal and trust tax compliance and advisory experience and technical knowledge, particularly in the areas of trusts and inheritance tax.

She said: “HURST is on an impressive and ambitious growth trajectory, as a strong, independent north west accountancy firm whose team delivers a first-class service to a varied client base as well as contacts and intermediaries, backed by a strong, cohesive and close-knit management team.

“The partners have recognised there is a need and demand within the firm’s tax service line for a dedicated private client tax offering, and I am thrilled to take up the opportunity to lead it.

“I’m excited to be part of the firm’s journey and to complement the existing partner group and HURST’s skilled and ambitious team to assist with the future development and growth of the practice.

“I look forward to applying my experience and technical knowledge to help clients achieve their personal and family wealth objectives now and in the future.”

HURST’s managing partner Tim Potter said: ““As the firm cements its position as the number one independent north west firm working with owner-managed businesses in the £5m-£100m turnover space, we have taken the decision to enhance our offering with a new service to support our high net worth clients with inheritance tax, trusts and complex personal tax matters.

“This is an exciting development for HURST and we are delighted to welcome Karen to the fold. We expect her vast experience and knowledge to be in high demand from our enviable client base of high net worth individuals.”

HURST focuses on advising entrepreneurial owner-managed businesses across all sectors. Clients include Kinaxia Logistics, M&I Materials, Beechfield Brands, Duerr’s, Oliver Valves, Lancashire County Cricket Club, Krones UK, Creamline Dairies, Scapa Group and Hyde Group.

The firm recently moved its head office to a new flagship development in Stockport to accommodate its growing team, taking 11,000sq ft at 3 Stockport Exchange, the latest phase of a £145m project by Muse Developments and Stockport Council.

HURST had been based since 1996 in Tiviot Dale in Stockport town centre, but outgrew the premises. The firm aims to grow from 120 staff to around 170 over the next three years.

Fintech, News

Fintech startup Alloy launches in the UK

US fintech Alloy has launched in the UK, strengthening its presence in EMEA with key senior hires and office space in London.

Alloy’s Identity Decisioning Platform helps banks and fintech companies to make smarter and faster decisions about the risk profile of each customer, and keep them safe from financial crime. The platform connects to more than 170 data sources, enabling financial institutions to automate customer approval and account opening, and monitor transactions in real time. Over 350 companies around the world trust Alloy to help them simplify processes and respond rapidly to new risks.

Fraud is a more serious threat than ever before: 91% of financial institutions said that fraud has increased year-on-year, and 71% increased their spending on fraud prevention, according to recent Alloy data. In the UK alone, bank fraud cost consumers almost £610M in the first half of 2022.

With Alloy, clients see an average 48% reduction in fraud. UK fintechs now have access to the company’s full product range, enabling them to stay ahead of regulatory requirements and scale their operations with ease.

Alloy’s former COO Edwina Johnson has relocated to London to head up global expansion, while James Baston-Pitt, former Vice President at Onfido, will spearhead commercial initiatives as the EMEA Director of Growth. The UK team is currently hiring for roles across sales and partnerships, and will continue to build out its go-to-market and client services functions throughout the year.

Since Alloy was founded in 2015, the firm has helped more than 350 of North America’s most innovative banks and fintech startups prevent fraud and financial crime, including Carta, Ramp and Brex. Alloy has raised over $210M to date, reaching a $1.55BN valuation, and last year announced its expansion into 40 new countries. The company has doubled down on its commitment to EMEA by establishing a physical presence in London, its first local site outside the US.

Edwina Johnson, Head of Global at Alloy said: “For financial institutions to remain competitive in today’s market, cross-border functionality is no longer a major advantage – it’s a must. Fintech startups are now building with a global mindset from day one, and looking for technology partners who can scale with them, adapting to their changing business needs, appetite for risk, and compliance requirements.

“The UK is one of the world’s most powerful fintech hubs, and we can’t wait to help innovative local firms unlock their potential abroad. For too long, international expansion has involved trade-offs with risk management, but that doesn’t have to be the case. Alloy provides dynamic support for companies operating across multiple regulatory environments, so they can focus on growing their business without worrying about the threat of fraud.”

To learn more, visit Alloy.com.

News

UK-based SaaS integration enabler Cyclr achieves SOC2 Type 2 compliance

Brighton, UK – 16 June 2022: Leading embedded iPaaS vendor, Cyclr, has announced it has achieved third party SOC2 Type 2 compliance. As an enabler of data transfer across a wide range of sources from APIs to customer databases, data security has always been one of the company’s highest priorities.

“As a UK/European company we have lived and breathed GDPR for many years and both data security and transparency have always been at the core to what we do,” commented Fraser Davidson, CEO of Cyclr. “However it is even better to now have this validated at the highest level by an external party. My team works hard every day to ensure we meet the most rigorous standards and they will wear this new badge with pride. The USA is one of our largest markets and it is for this reason that we have chosen to invest significant time and effort to demonstrate our ongoing compliance to US standards.”

“Cyclr has always had a solid commitment to putting our partners’ security and data protection first,” added Nic Butler, CTO, Cyclr. “We are constantly striving to make our controls and procedures best in class and are delighted to have achieved Level 2 accreditation. We understand that data security is never done, and we continue to work hard to ensure we maintain our partners’ trust.”

Developing integrations with other systems from scratch comes at a significant cost in both time and resources, and often acts as a major hurdle to market penetration for technology companies. Cyclr helps accelerate the integration delivery process and create a frictionless user journey between third parties at scale so software and SaaS innovators can focus on their own development, winning new clients, and growing their business.

Cyclr has built a library of over 400 API connectors that technology companies can choose to create white-label integrations. The library ranges from smaller niche services up to widely known global names such as Google Adwords, Hubspot, Microsoft Azure, Quickbooks, Slack, Stripe and Trello. The integrations can be installed quickly and span business functions such as accounting & billing, data tools, e-commerce, ERP, HR and marketing.

With direct experience of the challenges SaaS companies face when operating at scale, the founding team aims to be the ‘utility company’ to the API economy, providing the pipes and infrastructure to help software work together.

Having taken time to develop their system, the company has seen significant growth in the last few years. The team grew by 57% in 2021 and Cyclr secures a large majority of revenue from international clients.

FInance, News

70% accountants and lawyers have money laundering fears over Russian dark funds

  • Survey reveals only 45% are completely confident in their current anti-money laundering procedures
  • 76% believe the threat of money laundering will worsen over the next three years

LONDON, UNITED KINGDOM 25th MAY, 2022: 70% of accountants and lawyers are more concerned about money laundering since Russian events and sanctions began, with 75% moving anti-money laundering (AML) up the company agenda in the past year. That’s according to First AML, the end-to-end AML software solution, which surveyed 200 accountants and lawyers in the UK to discover attitudes toward current compliance and AML procedures.

Despite 53% of respondents having identified an instance of suspected money laundering in the past three years (with 24% identifying more than one) only 45% are completely confident in their AML procedures. Alongside this, a staggering 91% think companies need to embrace online technologies to aid compliance with AML regulations. Likewise, 87% respondents are putting more rigid policies in place to be compliant and meet AML regulations.

The core reason for money laundering rising up company agendas is a focus on customer transparency and ethical customer onboarding (68%). This was closely followed by external risks (50%), such as the situation in Russia and people traffickers, and increased risks of fines (46%). Worryingly, 76% of respondents believe the threat will continue to get worse over the next three years.

To deal with the growing threat of money laundering, 80% of respondents reported that they are turning to technology to become more compliant, while 53% said they were turning to outsourcing services and 28% turning to hiring.

Simon Luke, UK Country Manager commented: “Even before the Ukrainian conflict and Russian sanctions, the UK has been recognised as a hub for Russian money-laundering. Accountants and lawyers need quick, easy and accurate ways to onboard customers and complete financial transactions without fear. However, this is an industry wide issue that impacts not just businesses but also the economy and everyday Britons. That’s where First AML’s technology comes in, especially as countries globally call for tighter compliance in business.”

When asked what the main causes for concern were, the growth in online transactions (38%) was the most common answer. This was followed by the growth of unethical business practices (23%) and the Russian situation (18%).

To learn more about First AML, visit the website here: https://www.firstaml.com/

News

Kaseya’s Latest Innovation Cycle Provides Enhanced Automation, Security and Compliance Capabilities to Help MSPs and SMBs Thrive in The Evolving Tech Landscape

Key integrations allow IT professionals to streamline administrative tasks like billing and documentation, protect growing volumes of data and comply with increased regulatory requirements

Kaseya, a premier provider of unified IT management and security software for managed service providers (MSPs) and small to medium-sized businesses (SMBs), announced today the results of its latest innovation cycle. The company had a strong first quarter, including new enhancements to its IT Complete suite of solutions to support IT professionals as they continue to juggle growing cybersecurity, compliance and remote workforce management needs.

To further support its expanding customer base, Kaseya is full steam ahead on its goal to hire over 1,000 people globally by the end of the year — with 500 of those positions based at the company’s headquarters in Miami. To accommodate its expansion plans, Kaseya is expanding its Miami footprint with 64,716 square feet of cutting-edge building space and opened a new office in Krakow, Poland earlier this year to expand its R&D footprint. To create an enhanced workforce pipeline, Kaseya has established university partnerships with organisations like Florida International University to ensure students have the skills needed to thrive in the tech industry. Kaseya has also created the Grow Your Own program to support its new hires globally through educational programs, mentorship and leadership development.

“While 2022 has brought significant opportunities due to the need for cloud migration and hybrid workforce management, MSPs and SMBs are stretched thin as they manage IT environments that are growing in complexity—all while dealing with supply chain issues and a hyper-competitive job market that has made staffing a significant challenge,” said Fred Voccola, CEO of Kaseya. “With our newest features and integrations, we’ve made our IT Complete suite of solutions even more robust—allowing IT technicians to cut down on wasted time and more efficiently protect and manage their entire IT environment.”

Product Enhancements and Integrations

Unified RMM: 

  • Azure Discovery: With VSA’s latest release, customers can now automatically discover virtual machines, SQL instances, cloud services, app services and load balancers within Azure and automatically manage and monitor Azure virtual machines — making it even easier to monitor public cloud environments
  • Software Management 2.0: IT professionals now have access to Kaseya’s new patching engine, which offers lightning-fast scans, zero file storage requirements, an expansive catalogue with over 200 software titles and CVSS severity-based score patching policy. Software Management 2.0 helps MSPs and SMBs stay up to date on the most critical patches and secure their IT environments more effectively
  • FIPS 140-2 Compliance: VSA achieved NIST FIPS 140-2 validation, which is a requirement for U.S. federal agencies. MSPs and SMBs will receive the benefits of government validated and certified encryption for their mission-critical data

Compliance:

  • Compliance Manager GRC: Kaseya enhanced its award-winning compliance solution to allow MSPs and SMBs to perform one assessment for multiple standards—from CMMC and HIPAA to EU and UK GDPR. Compliance Manager GRC also allows IT professionals to create their own standards to align with cyber insurance policies, internal IT requirements and more. The solution now offers key governance, risk and compliance (GRC) features like vendor risk management, IT policy attestation and security awareness training and tracking.

Security:

  • BullPhish ID Custom Domains: The newest BullPhish ID release includes the highly-requested Custom Domains capability that allows IT professionals to specify the domain used for security awareness training emails, ensuring end users will experience a fully-branded training experience unique to their organisation.
  • Dark Web ID integration with Network Detective Pro from RapidFire Tools: This industry-first feature enables customers to scan Active Directory with Network Detective Pro and compare actual employee data with compromised credentials, providing IT administrators with actionable data to better protect their organisations.
  • Passly Password Server Auditing: This highly requested feature provides IT administrators with detailed audit reporting to meet compliance requirements, verify least privilege policies are enforced, and easily validate access controls.

Backup and Disaster Recovery:

  • ION and ION+: The newest appliances from Unitrends bring enterprise-class disaster recovery features and immutable storage to small offices, leveraging a desktop form factor that fits an environment without the need for a server rack.
  • United Kingdom data centre for Spanning Microsoft 365 customers: With Spanning’s newest data centre in London, England, IT professionals have more options on where their data is stored and can more easily meet regional compliance requirements. Spanning has data centres in the U.S., Europe (Dublin), Asia Pacific (Sydney), Canada (Montreal), and the United Kingdom (London) to support its global customer base.

MSP Enablement:

  • Powered Services Pro enhancements: Powered Services Pro, Kaseya’s sales and marketing enablement platform, now offers 14 product sales certifications that allow MSPs to better navigate the sales process and close more deals. The platform also launched a new Powered Services Supercharge Forum to provide increased opportunities for collaboration and Done-4-U social media services that simplify social media management for MSPs.
  • myITprocess Client Overview Report: myITprocess, Kaseya’s virtual CIO (vCIO) solution that helps MSPs build more strategic client relationships, now offers a Client Overview Report that allows MSPs to better prioritise client needs and build more impactful strategic plans.

IT Documentation:

  • Automated Account Backup in IT Glue: Technicians can now automatically export account data to ensure their documentation is available at any time, with the ability to adjust the backup cadence to meet specific compliance regulations or organisational needs.
  • Advanced Checklists in IT Glue: The latest IT Glue Checklist enhancements allow users to create, modify and copy checklist templates and apply them across different organisations—helping IT professionals standardise procedures and simplify day-to-day process management.

PSA/Service Desk:

  • Automated Services Billing through BMS and IT Glue: With this new integration, MSPs can utilise their existing IT Glue documentation to cut monthly service reconciliation and billing time from hours to minutes.

About Kaseya 

Kaseya is a premier provider of unified IT management and security software for managed service providers (MSPs) and small to medium-sized businesses (SMBS). Through its customer-centric approach, Kaseya delivers best-in-breed technologies that allow organisations to efficiently manage, secure and backup IT. Kaseya offers a broad array of IT management solutions, including well-known names: Kaseya, IT Glue, RapidFire Tools, Spanning Cloud Apps, ID Agent, Graphus, RocketCyber, TruMethods and Unitrends. These solutions empower businesses to command all of IT centrally, easily manage remote and distributed environments, simplify backup and disaster recovery, safeguard against cybersecurity attacks, effectively manage compliance and network assets, streamline IT documentation and automate across IT management functions. Headquartered in Miami, Florida, Kaseya is privately held with a presence in over 20 countries.

 

News

RECOM Solutions on the Rise with new framework appointment

Construction project management consultancy RECOM Solutions is celebrating a major boost with its latest framework appointment.

RECOM has been appointed following a tendering process to a £600m framework for ethical regeneration schemes across northern England and North Wales.

It is the latest to be launched by Liverpool-based framework operator Rise. RECOM has won places for general construction, refurbishment, safety and compliance and project management work.

Users of the new framework will include NHS Foundation Trusts and clinical commissioning groups, schools, academies and universities, social housing providers, local authorities, community-led housing organisations, charities, emergency services and third sector groups across the north west and North Wales, Yorkshire and Humber and Lincolnshire.

Rise is a pro-social business procurement group which provides agency services to construction frameworks, and supports communities by investing profits into local initiatives.

RECOM director Jason McKnight said: “Securing places on the new Rise framework is a tremendous endorsement of the quality and range of work that we currently undertake, and presents a fantastic opportunity for the company.

“It’s a very prestigious and significant initiative for our client base, as well as ourselves.

“Rise is very focused on social value, which chimes with our own ethos as a company. We are involved with a number of local organisations as a way of giving back to the community, including The Broughton Trust to offer employment opportunities to disadvantaged young people, and Salford Lads Club, where our head of operations James Holmes is on the board of trustees.”

RECOM, which has 30 staff, recently moved to new headquarters on the Waters Edge Business Park at Salford Quays.

The company, which was founded by Joseph Dillon and Jason, undertakes construction project management and main contracting work across sectors including healthcare, education, retail and leisure, commercial and residential.

It also provides consultancy services to assist in the delivery of projects, such as design, risk, quality, health and safety and sustainability alongside passive fire protection and cladding.

Clients of the company include Barry’s Bootcamp, Pot Kettle Black, Urban Village Bars, WUKPG, Arrowsmith Investments, The Derwent Group, Fletcher Bond, the University of Manchester and the NHS.

RECOM already has places on frameworks with the University of Manchester, NHS Shared Business Services and Fusion21.

RECOM’s roles on these frameworks involve project management, passive fire protection, facilities management, main contracting and building safety and compliance work.

News

Compliance Manager GRC Solution eases IT compliance woes

MSPs and SMBs can now simultaneously manage the IT requirements of any industry and government standard as well as customised sets of IT policies and procedures 

Kaseya, the leading provider of unified IT management and security software for managed service providers (MSPs) and small to medium-sized businesses (SMBs), has announced the launch of Compliance Manager GRC. The IT security assurance and compliance management platform streamlines the assessment, remediation and documentation processes for all IT requirements regardless of source – dramatically improving organisational efficiency. Compliance Manager GRC also offers several features that support the governance, risk and compliance (GRC) needs for vendor risk management, IT policy attestation and security awareness training and tracking.

“MSPs and SMBS are facing ever-evolving compliance regulations that require continuous input from individuals across an organisation. It can be exhausting to keep up with the constant changes, and much of the work falls to time-stretched IT technicians who lack the bandwidth to stay up to date on quickly changing regulatory requirements,” said Max Pruger, GM, Compliance Manager at Kaseya. “Our solution provides MSPs with a way to solve their clients’ growing compliance issues and frees SMBs to focus on tasks that grow their bottom line.”

Compliance Manager GRC is purpose-built to unify data gathering and reporting requirements based on a vast library of IT controls, ensuring that IT professionals can assess and comply with multiple standards at the same time —a crucial time-saver for those juggling numerous requirements. Compliance Manager GRC’s Rapid Baseline Assessment option makes it even easier to view initial compliance gaps across standards. It includes a new scan of the Microsoft Cloud which allows technicians to identify employee-initiated changes to the Azure environment and Microsoft Office cloud services. Compliance Manager GRC also automates the creation of dynamic evidence of compliance documents, including policies and procedures manuals and Plans of Action and Milestones (POAM).

Compliance Manager GRC also helps organisations mitigate risk by enabling businesses to assess and track compliance surveys for their vendor partners. The solution includes a brandable web-based portal that makes it easy for employees to take mandatory trainings and acknowledge that they agree to specific employer policies. All this information is presented through a single dashboard, accessible by IT technicians, operations professionals and other key organisational stakeholders. With Compliance Manager GRC, businesses can easily assess any IT requirement gaps, remediate them more effectively and generate evidence of compliance.

About Kaseya

Kaseya is the leading provider of unified IT management and security software for managed service providers (MSPs) and IT departments within small to medium sized businesses (SMBS). Through its open platform and customer-centric approach, Kaseya delivers best in breed technologies that allow organisations to efficiently manage, secure, and backup IT. Kaseya IT Complete is the most comprehensive, integrated IT management platform comprised of industry-leading solutions from Kaseya, Unitrends, RapidFire Tools, Spanning Cloud Apps, IT Glue, ID Agent, Graphus, RocketCyber and TruMethods. The platform empowers businesses to command all of IT centrally; easily manage remote and distributed environments; simplify backup and disaster recovery; safeguard against cybersecurity attacks; effectively manage compliance and network assets; streamline IT documentation and automate across IT management functions. Headquartered in Miami, Florida, Kaseya is privately held with a presence in over 20 countries.

 

FInance, News

Moorwand launches suite of payments compliance services

London, UK, 17th February 2022 – Moorwand, a payments solutions provider, offering BIN sponsorship and issuing services, today announced the launch of its suite of payments compliance services. The suite aims to improve the financial crime systems and controls for Moorwand clients whilst reducing the administrative burden and improving operational efficiencies.

From anti-money laundering (AML) to Know Your Customer regulations financial service providers need to comply with a growing number of increasingly complex and stringent requirements around payments. In 2021 non-compliance with AML regulations grew to $5.35bn globally (Fenergo, 2022). This has prompted the systemic overhaul of AML/CFT regimes by policy makers. In the UK the HMT has called for evidence on the UK’s regime while the European Commission recently proposed a new Anti-Money Laundering Authority to address the scale of the issue.

This ever-changing compliance landscape is creating more complexity at a time of increased scrutiny for firms. In response, Moorwand’s suite of compliance services ensures financial service providers better understand the compliance environment they operate under and mitigate any risks well in advance. Services are focused on reducing risk for providers across money laundering, terrorism financing, fraud (including APP) and other financial crimes.

Moorwand’s suite of compliance services includes:

  • Policies and procedures drafting
  • End user onboarding services – either full end-to-end or bespoke
  • End user screening for PEPS, sanctions and adverse media
  • Dedicated onboarding resources for manual reviews
  • Transaction monitoring system for Digital Banking
  • Transaction monitoring assistance for issuing programmes
  • Training for Programme Manager staff

Firms can mix and scale the suite of services to meet their specific compliance needs and even have Moorwand manage the entire function on their behalf.

“The payments space has witnessed exponential growth in the last decade and there’s no signs of it slowing down. The strong growth has also meant unprecedented enforcement actions, particularly over the pandemic, as regulators seek to combat bad actors. The resulting complexity and scrutiny means the importance of compliance cannot be understated,” said Vicki Gladstone, CEO of Moorwand. “Our deep legal and payments expertise ensure our clients are compliant today, whilst we help them to anticipate the next wave of regulations they’ll need to comply with tomorrow. Moorwand’s suite of compliance services distils this expertise and know-how into products and tools that give our clients the very best risk management capabilities on the market.”

Moorwand’s compliance suite includes services that may only be used on a one-off basis, and others that may be added or changed based on the requirements of the financial service provider.

To learn more about the services offered by Moorwand, please visit this link: https://www.moorwand.com/solutions/payments-compliance-services/.

News

Visa partners with Detected to tackle KYB compliance

Detected, the critical infrastructure component for next-generation KYB compliance, today announced that it has joined Visa Fintech Partner Connect Program in their Central and Eastern Europe, Middle East and Africa Region.

Through a new collaboration with Visa, companies will be able to use Detected’s Connected Compliance API to search and locate business credit, corporate and director information from around the globe in seconds. From there, ID verification, UBO information and company documentation can all be gathered and linked to the business’ profile.

Detected fills this critical KYB gap in the payments technology stack with its ‘Find Company’ algorithm – the ability to find any registered company globally with minimal information – API-first technology for seamless deployment, and advanced capabilities to ease customer onboarding.

Liam Chennells, CEO at Detected, said: “Where money moves, compliance is a problem – especially when trying to validate the credentials of a business. If a company, anywhere on earth, is registered with its local authority or government, Detected can find it with less data input than any other solution. We are excited to be working with Visa and its partners to pioneer this category.”

“Businesses want a simpler experience onboarding sellers so they can offer their customers a more diverse range of products from around the world,” said Alex McCrea, Head of Fintech Partnerships – CEMEA at Visa. “Detected offers businesses a seamless compliance solution that enables them to grow and remain competitive. We are delighted to welcome Detected into Visa’s Fintech Partner Connect program.”