In order to ease the regulated services like KYC, KYB and AML checks of the financial industry, Finch Global has launched shared services. They are affirmative that this notion will accelerate post- COVID 19 phase by paving an easier way for financial products.
Adrian Cannon, a founder of Finch Global said, “Finch Global is set up to address a very specific and critical issue: The inefficiency experienced by individuals, businesses and regulated service providers when signing-up for and maintaining access to services that require KYC, KYB, and AML checks.”
“Buying any regulated service, or simply maintaining your right to use it, requires an inefficient paper-chase and often the emailing of sensitive information over unencrypted channels. Shopping around for a good value product can involve repeatedly sending this information to several providers that will have to validate it independently before confirming they can provide the service. In the digital age, that is hugely inefficient. Finch Global enables a set of digital credentials to be securely stored and kept up to date for sharing now, and in the future as evidence of corporate and personal identity.”
“Where an SME owner has a trusted relationship with an existing regulated service provider, such as their merchant acquirer, that business can issue a set of digital credentials based on the existing data it holds that can be used wherever Finch is accepted,” Cannon concluded.
Finch Global is going to collaborate with merchant contributors with the agenda of backing a wide variety of trade and sole traders. They are anticipating to add more customers while servicing their existing customers.