Equiniti makes two capability enhancing acquisitions

08 March 2016

RiskFactor and KYCnet BV

RiskFactor enhances its fraud detection and prevention capabilities

KYCnet BV provides leading Know-Your-Customer (KYC) technology and services provider

 Equiniti Group plc, a leading provider of technology led solutions to clients with complex and regulated administration needs, today announces that it has completed the acquisitions of Risk Factor and KYCnet BV (KYCnet). The acquisitions further demonstrate Equiniti’s strategy of developing and acquiring specialist technology platforms to meet the combined challenges of regulation, digitisation and cost reduction. These scalable technology platforms provide regulation driven non-discretionary services to meet the needs of its extensive existing client base.

RiskFactor is a market leading provider of fraud analytics software for commercial finance lending that complements Equiniti’s other ‘control risk’ capabilities.

Fraud is an especially hot-topic within the retail and business banking sector, where increasing numbers of payments are made online and through multiple disparate channels (online, mobile, B2B, B2C). Regulation, operational risk management, big data trends and the commercial benefits of fraud prevention are driving demand for effective fraud detection in the sector.

KYCnet is an experienced Know-Your-Customer (KYC) technology and services provider which helps organisations verify and on-board their customers. It provides cutting edge workflow technology for commercial and retail clients and has broad anti-money laundering applications across financial services as well as retail, travel and utilities sectors.

Tighter regulatory requirements, particularly in financial services, have caused companies to review and rapidly amend their KYC processes and capabilities. In doing so, many are finding that their new processes have created barriers to servicing and growing their customer base, and have discovered that their existing customer data often fails to meet regulatory standards. This acquisition ideally positions Equiniti to assist financial services clients that have a KYC need in addressing these challenges.

Guy Wakeley, Chief Executive of Equiniti, said: “We are excited to be delivering on our strategy of developing and acquiring specialist technology platforms with the acquisitions of RiskFactor and KYCnet. The challenges of regulation, digitisation and cost reduction are particularly relevant to our client base both in financial services sector and beyond and the acquisition of these scalable platforms will help to meet these needs. This further demonstrates our position as a provider of innovative technology-led solutions and are examples of the progress we continue to make in enhancing the range of services we offer clients and driving growth through high quality acquisitions.”



For further information please contact:
Alex Child-Villiers / William Barker
Temple Bar Advisory
Tel: +44 (0) 20 7002 1080
Email: alexcv@templebaradvisory.com / williamb@templebaradvisory.com


Notes to Editors

About Equiniti:
Equiniti is a specialist outsourcer delivering technology-enabled solutions to large enterprises. It processes £90bn in payments every year, handles 88 million documents and pays 20 per cent of pensioners in the UK. We are acknowledged leaders in many of our markets and keep things running smoothly for some of the UK's best-known brands and public sector organisations.

About RiskFactor: 
RiskFactor was launched in 1997 and serves a stable of international financial services clients, with its fraud protection and risk management software analysing tens of billions of $ of lending. Designed by professionals with a long track record of working within commercial finance, RiskFactor is driven by an understanding of the challenges users’ face on a daily basis.

RiskFactor provides real-time automated fraud monitoring capabilities to lenders using proprietary technology and algorithms. The software is primarily geared towards commercial finance lending, including factoring, invoice discounting and other types of collateral and asset-based lending, and has also recently launched an application with relevance for wider business banking.

About KYCnet: 
At KYCnet, our business is to meet your requirements. We provide customer compliance consulting, outsourced operational support services and systems that enable our customers to completely, quickly and cost-effectively meet their compliance and regulatory obligations while smoothening and speeding-up their customer acquisition and retention processes. Our unique combination of finance industry compliance experience, advanced automation and global staffing model ensures customer satisfaction. Our industry-best-practice rule-books and processes, reporting dashboards and auditability bring a new level of transparency to compliance. Our Agile, Lean and Six-Sigma approach to our packaged services drive a rapid and iterative implementation of solutions.

KYCnet’s flagship product is KYC Passport, an enterprise workflow management platform for retail and B2B customer on-boarding and due-diligence. KYCnet was the first company to adopt a ‘KYC as a service’ model, and has eight years of operating exclusively in the KYC sector, deep domain knowledge and experience of working with leading financial institutions and banks across Europe.