Cellbunq needed a reliable way to access up-to-date business details from around the world to meet KYB (Know Your Business) compliance requirements.
Cellbunq’s Challenge: Accurate Global Data
Cellbunq, a fintech company, offers mobile banking services to freelancers and small businesses worldwide. As they grew, one major hurdle was verifying the business information of their international clients. Each country has its own business registry, and information can vary widely. Cellbunq needed a reliable way to access up-to-date business details from around the world to meet KYB (Know Your Business) compliance requirements.
BoldData’s Solution
This is where BoldData came in. With access to local business registries in over 200 countries, BoldData provides detailed and current data on millions of companies globally. This was exactly what Cellbunq needed to streamline its KYB processes.
Implementing the Solution
Cellbunq integrated BoldData’s extensive business information into their KYB application. Now, when a client signs up from anywhere in the world, Cellbunq can quickly pull the necessary company information from BoldData’s database. This process verifies the client’s business details against the latest data, ensuring compliance with international KYB regulations.
Thanks to BoldData, Cellbunq’s KYB checks are now faster and more accurate. This solution has significantly reduced the time and effort needed to onboard new international clients, improving the customer experience. Cellbunq has become more efficient at verifying client information, keeping them compliant with KYB requirements across different jurisdictions.
Conclusion
Cellbunq’s use of BoldData’s global business data has transformed their KYB verification process. By leveraging accurate, localized company data, they’ve streamlined compliance checks for their international clientele. This move not only supports Cellbunq’s growth but also builds trust with their customers, demonstrating a commitment to thorough and efficient compliance practices.
