KYC is when businesses gain information and data in order to confirm and verify the identity of client/customers and ensure that they are not or have ever been involved in any type of criminal activity such as money-laundering or any other type of financial crime. By conducting thorough check on the background of the prospective customer, you can be rest assured that your company or organisation would not be implicated to third-party risks when closing a deal, onboarding a partner, or investing in other business ventures.

KYC Due Diligence, is the combined strategy specifically intended for dealing with high risk or high value customers and large transactions, as these transactions and clients pose greater risks to the financial sector, they are heavily regulated and monitored in order to adhere to compliance acts set by governing bodies. Many industries are subject to AML/CFT (Anti-Money Laundering/Combating the Financing of Terrorist) compliance, including requirements disseminated by MAS (Monetary Authority of Singapore) applicable to any and all financial institutions in Singapore. Hence, it is imperative that business owners and entrepreneurs of today, to not only be aware of the various risks at hand in the financial sector as well as the overall global economy, but also know the inherent responsibility to conduct regular KYC Due Diligence checks in order to comply to the laws and regulations set to protect businesses. Therefore, we have made an application, Intellinz, for firms owners to search for opportunities, potential partners, buy or sell businesses and investment with our integrated ongoing due diligence screening. This will help to build safe and conducive marketplace for any firms that use our platform.