Advance.AI improves KYB services for credit bureau services

Advance.AI has announced improvements to its KYB services for corporate due diligence processes in Southeast Asian countries such as Singapore and Malaysia. The upgraded KYB system, operating under Advance.BizQ, will provide extensive data verification for business registration, company profiles, ownership structures, credit history, and watchlist reports.

Following the acquisition of JewelPaymentech in 2022, the payment fintech has been integrated into the Advance.BizQ platform to enhance its credit bureau services for credit risk assessment and management, the company says. The rebranded platform is specifically tailored to support businesses for various purposes, including compliance management.

These revisions are anticipated to equip financial institutions and small and medium-sized enterprises (SMEs) to meet their compliance obligations. By leveraging credit bureau services offered by Advance.AI, businesses can integrate these upgrades to manage credit exposure and safeguard their financial health.

“The enhancement of our KYB verification service, operating under Advance.BizQ comes at a crucial time of heightened anti-money laundering (AML), compliance, and risk management challenges, as well as increasing need for business and financial security against counter-party credit and risk exposure,” says Dennis Martin, chief executive officer of the credit bureau business at Advance.AI.

Martin is a recent recruit into the leadership role, who previously served as group chief executive officer of CTOS Digital in Malaysia. He has experience with credit and risk management offerings for the banking, financial services, and SME sectors.

Article Topics

Advance.AI  |  digital identity  |  identity verification  |  KYB  |  KYC  |  Malaysia  |  Singapore  |  Southeast Asia