Zurich, Switzerland (April 10th 2021) – SMEs Gain an Affordable Compliance Ally with Check Your Customer (CYC)
Small and medium-sized enterprises (SMEs) looking for an affordable compliance solution now have an ally in Swiss start-up Check Your Customer (CYC).
CYC is an online platform that offers SMEs cost-effective access to Know Your Customer (KYC) and Anti-Money Laundering (AML) checks across multiple compliance datasets. These checks reduce risk when onboarding new partners or screening existing customers. Additionally, the platform identifies politically exposed persons (PEPs) and CEOs of state-owned enterprises, and matches their data against international sanction lists.
The service is available as a web-based due diligence check or as a SaaS API for automated processing.
Unlike average AML providers, CYC offers distinct advantages for SMEs with its Pay-As-You-Go service. Moreover, the platform utilizes a unique matching algorithm to minimize false positives. Security is robust, with a RESTful API running exclusively on individual servers in certified German data centers. Audit-proof documentation is included, logging all hits.
Michael Andrä, Co-Founder of CYC, said:
“SMEs do not use AML services as regularly as banks. Therefore, we help them stay compliant without impacting their budget.”
CYC is easy to use and integrates into other systems for automated processing.
For more information, visit: www.cyc-online.net