Posted Thursday 18th February 2016

Jersey is open for business in making KYC digital

Jersey is not only open to fintech in the compliance and KYC arena, but it could lead the field and become the place to store data. An audience of more than 100 heard from international and local thought leaders in the Fintech KYC and compliance arena at an event organised by Digital Jersey and leading global FinTech network, NewFinance.

Jersey is open for business in making KYC digital

Keynote speaker Ken Burrows, VIX Verify, flew in from Australia to share his insights with the Jersey audience, and conducted a live demonstration of their compliance app. VIX Verify is a global leader in online identity verification, with offices in Australia, Asia, Europe and the USA. Clients include banks, financial services, telecoms and ecommerce businesses.

 

The panel of seven included some of the most innovative companies in the KYC arena locally as well as Hamish Armstrong from the Jersey Financial Services Commission. During the discussion the panel agreed that touch ID and biometrics will be standard going forward as we become more sophisticated in the ways we identify ourselves.

 

Andy Jarrett, Director Business Development, Digital Jersey, said: ‘There are a growing number of local providers in this area offering differentiated and complementary solutions to the various aspects of KYC. This evolving cluster is great for innovation, but perhaps more important is the very positive statements made by the JFSC to industry, that they are keen to see the financial services community gain the efficiencies that technology can deliver in this area. This opens the opportunity for Jersey to become the defacto location for securely storing and transacting electronic due diligence information.’

 

 

On the panel was:

  • Hamish Armstrong, JFSC, Senior Manager, Financial Crime
  • Helen Hatton, Executive Chairman and Co-Founder of KYC Worldwide, which utilizes advanced database search technologies and secure dedicated data room technology to deliver fully auditable CDD and risk verification.
  • Mehul Kotedia, CEO, KYCME, an online secure vault for individuals and corporates to share documents and information with third parties via a secure platform.
  • Tom Devlin, KYC360, is a group of fintech companies which collectively supply regulatory compliance and risk management software and services to over 23,000 users globally.
  • Daniel Le Blancq, Elian, which launched a ground breaking app to provide a paperless alternative to certified true copies for individual client due diligence.
  • Matthew Beale, MD, Comsure Compliance, an anti-money laundering expert.
  • Jon Day, CFO, KYLI limited, a Jersey based and developed application to fully authenticate and KYC approve an individual in minutes.

 

The event took place on February 11th at the Digital Jersey Hub, St Helier.