Press Release October 2, 2024

FinClusive and KYC2020 Partner to Enhance Financial Crimes Compliance and KYC/KYB Capabilities

CHICAGO - October 2, 2024 - FinClusive Capital, Inc. (FinClusive), a global provider of comprehensive financial crimes compliance (FCC) and digital identity tools, and KYC2020, a leading provider of global Sanctions, Regulatory, Criminal, Politically Exposed Persons (PEPs), and negative news data and screening solutions for Anti-money Laundering & Counter-terrorism Financing (AML/CTF) compliance, today announced a new partnership.

This collaboration integrates KYC2020’s next generation decisioning, screening and monitoring capabilities into FinClusive’s comprehensive compliance platform, significantly enhancing FinClusive’s sanctions screening, adverse media, and ongoing monitoring functions.

The partnership leverages the strengths of both companies. KYC2020’s AI-powered advanced decisioning tools are renowned for their effectiveness in reducing false positives, a critical factor for organizations seeking to optimize their compliance operations. By integrating these tools into FinClusive’s comprehensive compliance platform, customers will benefit from increased accuracy and efficiency in their FCC processes.

“We are excited to partner with KYC2020, a company that shares our commitment to innovation and excellence in compliance solutions,” said Amit Sharma, CEO of FinClusive. “Their cutting-edge technology perfectly complements our broad and powerful platform, enhancing our ability to deliver robust Know-Your-Customer (KYC) and Know-Your Business (KYB) solutions to our clients. The addition of KYC2020’s capabilities will help our customers manage risk more effectively by reducing false positives and improving overall compliance efficiency.”

The collaboration focuses on three key pillars: Sanctions & PEP screening and decisioning, adverse media monitoring, and ongoing client monitoring. These enhancements will provide FinClusive’s clients with a more sophisticated, integrated compliance solution that meets the demands of an increasingly complex regulatory landscape.

“FinClusive has proven their ability to deliver cost-effective, high-performance tools for efficient customer onboarding,” added Rajeev Bahri, CEO of KYC2020. “This collaboration enables us to extend our offerings to a broader audience, while also helping both companies enhance the value we provide to our customers.”

KYC2020’s solutions are designed to meet the needs of businesses across a range of industries, providing a comprehensive approach to AML/CFT compliance that addresses both current and emerging regulatory requirements.

ABOUT FinClusive

FinClusive is a global provider of modernized compliance solutions. FinClusive’s comprehensive Compliance-as-a-Service platform centralizes and automates complex compliance tasks, including Know Your Customer/Know Your Business, ongoing monitoring, anti-money laundering and fraud management, enhanced due diligence, and digital ID issuance and validation. Developed by former regulators, FinClusive’s platform integrates hundreds of data sources, best-in-class technology providers, and advanced analytics tools, offering a risk-based compliance solution with global reach across 170+ jurisdictions. By helping customers meet global regulatory standards, FinClusive promotes financial inclusion worldwide. For more information, please visit FinClusive.com and follow us on Twitter @FinClusiveCap and on LinkedIn.

ABOUT KYC2020

KYC2020 is an industry leader in AML compliance technology. The company’s mission is to make AML compliance easy, effective, and affordable for enterprises of all sizes. KYC2020 provides global watchlist data and AI-powered decisioning solutions for global Sanctions, PEP, Adverse Media, KYB screening, and Ongoing Monitoring. KYC2020 helps its customers speed up onboarding and stay compliant while delivering a significant reduction in manual workloads and overall cost of AML compliance. For more information, visit kyc2020.com. and follow us on LinkedIn