Comparison to ISX, page-5

I think that ISX and KYK can be complimentary to each other, as where one ends off, the other picks up, with almost no overlap of services.

In fact, in the EU, the whole KYB(usiness)/KYC cycle cant be completed without input from both the KYB corporate registry searches (KYK) and the KYC verification of UBO/PSCs (ISX)

I posted on it here > https://hotcopper.com.au/threads/an...s-paydentity.3500325/page-16?post_id=25449600

KYK is in a tough sector, where KYB is already dominated by the likes of Bureau Van Dyke, Dun & Bradstreet, Experian, Veda /Equifax and others. Linking to Companies House/ASIC style databases isnt new, and theres almost no IP in it - just a hell of a lot of hard work to connect to government registries across the planet.

I see that there is a new deal with MYDATA that may provide some efficiencies etc, and some advantages over the incumbents.

Not sure if anyone saw the newest KYB entrant  - SimpleKYC. They appear to add an OCR function to extract the data from the PDF files obtained from the likes of ASIC etc.

I did laugh at the "Australia's AML is amongst the strictest in the world" bit. The opposite is true. The last Sovereign Audit by the Financial Action Task Force (FATF) ranked us almost on par with Carribean Tax Havens. We (for gawds sake) still accept cash in property deals, our lawyers, accountants and auditors can launder money as they do not fall under AML law (as they have done everywhere else since the late 90's), and we have a string of issues that no Government wants to resolve, as it may mean that Chinese money stops flowing inbound.

Other than that, we are "World Class" - lol.

http://www.fatf-gafi.org/media/fatf...4/Mutual-Evaluation-Report-Australia-2015.pdf

The EU is without doubt the toughest regime by FAR, and its good to see KYK and ISX have adopted EU requirements rather than some shonky Island - oops, Australia!