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ONE Taps Know Your Customer to Streamline Onboarding Process

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UK-based ONE Group, which provides trading and other financial services across digital and fiat currencies, has selected Know Your Customer to help streamline client onboarding. Formerly known as AIM, ONE rebranded to reflect the seamless integration of its trading and payments solutions for corporate clients across crypto and foreign exchange.

The company, established in 2017, will deploy Know Your Customer’s Modular Compliance solutions to streamline onboarding operations for its business customers around the world. ONE will benefit from Know Your Customer’s broad coverage of real-time registry connections and its automation capabilities to map corporate structures across borders.

According to  Kathryn Willis Managing Director and Group Head of Compliance at ONE, “Integrating with Know Your Customer has allowed us to provide a seamless, tailored onboarding journey for our corporate customers and consolidate our case management systems. Further, by working with Know Your Customer, we have developed a world class onboarding tool which is commended by our financial crime auditors.”

The new implementation allows compliance team members to visualise a customer’s entire corporate structure, risk profile and AML screening results, while also having immediate access to the corresponding records. “This allows us to streamline our compliance processes, and automate key management information,” says Willis.

Know Your Customer CEO and co-founder Claus Christiansen reckons that “true customer-centricity starts with onboarding. In fact, as the initial phase of all business relationships, onboarding represents a crucial step for any Fintech or financial services provider.”

Founded as a UK-based OTC digital asset trading desk, serving high-net worth individuals, corporates, and institutional clients globally, ONE today provides a unified end-to-end financial services solution for corporate clients, principally within the gambling and sports betting, cryptoasset and offshore sectors.

Recognising that its clients – who were generally in higher-risk sectors – were facing tremendous difficulty in the movement of fiat funds connected with crypto, ONE undertook to resolve this industry pain point by shifting its focus towards banking and the provision of payment services. ONE subsequently acquired its PI licence from the FCA in 2020, and launched its proprietary payments platform in 2021.

With offices in the UK, Jersey, Luxembourg, and Switzerland, and with additional locations to follow, ONE is able to effectively serve clients globally through its portfolio of banking partners and network of licences. Through a single onboarding with ONE, clients get access to a full suite of products and services, including real named IBANs in multiple fiat currencies, access to payment rails including SWIFT, SEPA Instant, SEPA, Faster Payments and CHAPS, FX in up to 19 currencies, and the ability to trade crypto 24/7 via the ONE OTC desk.

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