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Cellbunq includes complex UBO structure support on KYB platform

Cellbunq includes complex UBO structure support on KYB platform

Cellbunq, a KYB software maker, has announced the expansion of its artificial intelligence (AI) platform to support complex ultimate beneficial ownership (UBO) structures. The company says this development will provide businesses with data on difficult-to-obtain UBO financial structures.

A UBO is someone who is the end beneficiary in a transaction that a financial institution initiates.

Cellbunq claims its AI platform allows for onboarding of businesses and individuals and selection of services. It also provides global coverage.

The expansion of the AI platform is important in helping businesses identify ownership structures, executives say. The new function will enable companies to create clearer and more-understandable graphs showing the ultimate beneficial owners of entities.

The goal is to make it as easier for businesses to understand who they are dealing with, says Cellbunq.

The AI platform’s expanded capabilities allow for a more-thorough analysis, helping to identify red flags, executives note.

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