fbpx

KYC SERVICES

Buy and Sell Company with KYC so that you can be 100% be sure who you are dealing with using Intellinz, B2B KYC Due Diligence

Kyc Services

Buying a Business and Know-Your-Customer (KYC)

When it comes to buying a business, you simply cannot use big business rules to value and buy a small business. However, you can still protect yourself by performing KYC services.   

During the search for the best business to invest in, you may have already found several businesses that interest you but often it does not come with companies who are readily available to provide you with the necessary information.  Preliminary due diligence is the process of investigating and evaluating these businesses to help you decide if they deserve further consideration and preparation for a Sale and Purchase agreement for a small business. The goal of preliminary due diligence is to learn just enough about a business to help you qualify (or disqualify) it for purchasing consideration. Some small companies would also rely on standard KYC Due Diligence to ascertain if the business is worth investing in.  

Buying the wrong business might even bankrupt you and spoil your reputation.  Whether you plan to be a hands-on owner or hire managers to do the bulk of the work, most entrepreneurs need a business that suits their skills, knowledge, interests, and personality. Otherwise, the business may not be successful. Just because a business appears to be successful, and even shows a profit, does not mean KYC is not required.  Not knowing why the business is being sold and just believing that the business owner is retiring is not enough. He may know that a competitor has purchased the property across the street and the current business may be losing revenue in the near future. Determine why the business is up for sale and what the business environment will be like is crucial during decsion making.  

Never ignore the company image because most businesses must have established an image or a brand over the years. Customers are familiar with this and changing it quickly can be self-defeating, since this image may be integral to the value of the business.

Selling your Business & Know-Your-Customer (KYC)

It is a big mistake to assume that only an investor should perform KYC. Even seller has to perform KYC Due Diligence on their own company and the buyer to ensure that the incoming fund is legal to use. KYC and CDD are crucial aspects of AML compliance. Firms must identify and verify anyone they work with, to ensure they don’t unknowingly become involved with a business or individual with a history of financial crime, or sanctions. 

Online KYC Due Diligence verification, Intellinz is quite fast and efficient as opposed to traditional KYC. Therefore, several organizations have begun to incorporate it during mergers and acquisitions of businesses. Also, due to covid-19, physical interactions have become limited. This will only maximize its usage and importance in the near future when all checks are done via an online application.  It helps businesses in being compliant with different regulations and minimize loss of value by associating with criminals. Moreover, by implementing it, companies can become protected against online criminal activities.

Buyers have to do a detailed financial analysis of the business to determine the appropriate price to pay.  Intellinz, a B2B KYC system allowing data to flow into an AWS server brings better control over the loss of data as compared to traditional Due Diligence. This includes reviewing income and loss statements, balance sheets, key assets, contingent and actual liabilities, and cash flow statements. You may find that it is more cost-effective to start from Intellinz by promoting your business and proceed withKYD Due Diligence in the same platform.  

Kyc Due Diligence

What is KYC Due Diligence?

Every company should know the term "Know-Your-Customer," otherwise abbreviated as KYC, as well as "Due Diligence." Both of which are essential concepts in the economic and commercial sectors. Therefore, a clear understanding of both is essential for all companies.

Know-Your-Customer (KYC)

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.

Due Diligence

Due diligence is the inquiry or practice of care that a reasonable business or individual is responsible for prior to entering into a contract or agreement with another party. The method by which a prospective acquirer evaluates a target business or its assets for an acquisition is a popular instance of due diligence in different sectors after the start of B2B or B2C relationship. In essence, Due Diligence offers organizations with a continuing insurance system, particularly those conducting big numbers of daily operations such as banks and investment houses to preserve corporate compliance.

KYC DUE DILIGENCE

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.

By closing the gap in KYC due diligence for Small Medium companies, Intellinz solves the pain points of customers who do not have a clue on how to perform Due Diligence and cannot afford full KYC services. Solving the following pain points for many SMEs 

USES OF KYC SERVICES


  • Client on-boarding.
  • User Registration.
  • Processing of high-profile transactions.
  • Re-verification of existing users.
  • Ensure regulatory compliance.
  • Replacement of outdated authentication mechanisms.

Due Diligence Solves the following points.

  • Reducing criminal syndicates infiltrating to companies
  • Keeping track of STAKEHOLDERS, important suppliers and before awarding major contracts.
  • Looking for verified business opportunities such as franchisees and new product suppliers from overseas.
  • Searching for suitable investors and getting an investor for your current business.
Click here to find out more about Intellinz
www.intellinz.com

START WITH US NOW!