KYC Platform Chekk Secures Investment from Standard Chartered

Standard Chartered yesterday announced that it has invested funds in Hong Kong-based KYC, KYB and data management platform with the aim of accelerating the company's product development and boosting its sales organisation – both to meet the increasing demand of the global identity verification market for individuals and corporates that is anticipated to be worth US$17 billion by 2026. Standard Chartered joins Chekk's multi-million dollar financing round announced in June this year, led by HSBC and with participation of venture capital firm SOSV.

Said Alex Manson, head of SC Ventures: "Chekk is already an established partner for SC Ventures, as our go-to KYC/KYB provider for a number of ventures we have incubated. While several companies claim to optimize customer on-boarding in banking, none comes close to Chekk, with real-time data collection delivering a digital advantage across multiple stakeholders. We are thrilled to partner with this great team, including with our most recent investment, to be addressing a real gap in our industry."

"Chekk has a unique proposition, taking KYB and KYC to another level of capabilities and customer experience, which resonates very well with various parts of Standard Chartered Bank and its partners," said Pascal Nizri, Co-Founder and CEO of Chekk. "It is rapidly becoming a standard across multiple business units and is also being adopted by various other financial institutions and fintechs around the world."

"Our platform aggregates data sources from around the world (e.g. 'live' government corporate registries, global commercial data partners, anti-money laundering lists, ESG data) to feed into a modular ecosystem of advanced capabilities and channels, enabling organizations like financial services providers to manage relationships with business and individual clients." added Pascal Nizri. "Beyond already being our client, we are delighted to welcome Standard Chartered Bank as investors, to support the expansion of our product suite, teams and client base globally."