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kompany.com Embraces Blockchain Technology To Provide Ultimate Source Of Company Records
kompany.com, an Austria-based provider of global business intelligence, has announced its development to provide electronic ledgers of original and authoritative company information.
The company made the announcement at the recently held 2016 joint conference of the European Commerce Registers’ Forum (ECRF) and Corporate Registers’ Forum (CRF) in Cardiff, UK. It said that by applying a hybrid blockchain to continuously monitor and note changes of official company information, kompany will be able to provide the “ultimate source” of actual and historical, fully auditable and valid company vitals and filings.
kompany said that its blockchain also offers a one-stop-shop access to retrieve all available information and official documents on a specific company and its officers, including the identification and visualization of interconnections with other companies and beneficial owners around the globe. Moreover, it enables a search for companies on the basis of all current and future identifiers (e.g. commercial register number, LEI, EUID, REID, DUNS, Bloomberg Global ID/FIGI, Thomson Reuters PermID, etc.), thereby harmonizing today’s global company information infrastructure.
Emphasizing on the importance of compliance and risk management in today’s global marketplace, kompany said that the growth of KYC / KYB (know-your-customer /business), AML (anti-money-laundering), and EDD (enhanced due diligence) requirements is driven both by regulatory changes and the commercial need to avoid business disruptions. To that end, the company said that it already supports the financial industry, large corporates and various ERP / CRM platforms and market places to automate their KYC / KYB processes for client onboarding and monitoring, resulting in significant time and cost savings.
Founded in 2012, kompany has raised USD 4.3 million in seed, angel and Series A funding. Headquartered in Vienna, the company provides live access to official company register documents, annual reports and other documents filed with governments in 80 countries and jurisdictions as well as to business credit reports. It currently covers 50 million businesses and a total of 1.5 billion official filings.