Finologee and Harmoney to create KYC joint venture

Financial solution developer Finologee is working with know-your-customer (KYC) service provider Harmoney, to build a new joint venture called KYC Manager.

By working together, the companies hope to bring a ready-to-use digital customer onboarding and lifecycle management solution to the Luxembourg market. Their hosted solution will empower financial institutions to bolster their digital transformation and improve their client lifecycles, while meeting compliance.

KYC Manager is a modular platform which can be used by banks, insurance companies and other institutions required to meet KYC standards. The software connects systems, data and related parties to improve efficiency and reducing costs.

The tool is made up of a series of components and APIs, empowering financial institutions to selevt their specific pieces they want and need.

Finologee CEO Raoul Mulheims said, “At Finologee, we are thrilled to work closely with Harmoney to provide a pioneering digital client lifecycle solution optimised specifically to meet the growing needs of our Luxembourg financial industry clients.

“We believe that this partnership is the right answer to current digitisation and optimisation challenges, providing a compliant access to Harmoney’s ready-to-use KYC solutions that are neatly integrated with our APIs and KYC components. It will dramatically transform end-to-end client journeys and lifecycles, for client onboarding, remediation and other KYC processes and lead to enhanced experiences for all stakeholders.”

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