In a move set to reshape the landscape of compliance and onboarding procedures in Europe, TransactionLink and Know Your Customer have announced a strategic partnership.

TransactionLink, known for its onboarding automation solutions, is teaming up with Know Your Customer, a SaaS ecosystem specialising in Business Know Your Customer (KYC) verification.

The collaboration aims to address the increasing demand for robust business KYC and Know Your Business (KYB) procedures, which have become essential for financial institutions and regulated businesses. As organisations strive to implement seamless onboarding processes, the partnership between TransactionLink and Know Your Customer emerges as a solution to streamline and enhance these operations.

TransactionLink CEO and founder Mateusz Pniewski said: “Choosing Know Your Customer as a strategic partner is very well aligned with our strategy at TransactionLink. Both our and KYC’s missions are to provide our customers with the most comprehensive company data, especially for those with a global-first perspective.

“KYC’s API has truly impressed us with its resilience and speed, effortlessly connecting with jurisdictions that are typically challenging. We’re excited about the collaboration and eager to enhance KYC’s already global data coverage with TransactionLink’s powerful onboarding automation.”

One of the critical challenges in corporate onboarding is the need for supplementary user data gathering, anti-fraud checks, and risk assessment.

TransactionLink’s innovative onboarding automation platform will now integrate Know Your Customer’s KYC API and real-time data into its business logic builder. This integration will result in a comprehensive automated user journey creator, promising a seamless experience for compliance teams and their SME and corporate customers across Europe.

By combining the strengths of both platforms, the partnership endeavors to provide financial businesses with cutting-edge technology to meet regulatory requirements and mitigate risks effectively.

Through simplified and automated business KYC and KYB procedures, TransactionLink and Know Your Customer aim to empower organizations to focus on their core competencies and drive growth in 2024.

Know Your Customer CEO and co-founder Claus Christensen said: “We are thrilled to partner with TransactionLink to elevate the corporate onboarding experience for their customers.

“By leveraging our real-time access to global registry data through our REST API, integrated with TransactionLink’s powerful automation capabilities, we empower financial institutions and regulated businesses to seamlessly implement efficient and compliant KYB procedures. This synergy effectively reduces manual effort and enhances overall customer satisfaction.”