It’s a trio of new client wins for Ondorse, here’s the word;
Ondorse, a leading provider of a KYB (Know Your Business) solution, today announced it has secured three new clients in the past two months as part of its ongoing expansion into the UK&I market. Ondorse provides an innovative, all-in-one platform that automates and accelerates burdensome compliance processes, enabling businesses to verify customers more efficiently and reduce the operational costs of compliance.
The new wins – PayXpert, Kota, and Assurdeal – have been secured as part of its ongoing growth in the region. Since its launch in 2021, Ondorse has raised total funding of $6.63M over two rounds from two institutional investors and expanded its client base to include major European companies like insurance unicorn, Alan. The company now aims to build on this through new hires and partner recruitment in the region, with plans to open an office in the UK next year following its rapid and recent commercial success. The company is also announcing the appointment of Olivier Godement, a senior U.S. executive at OpenAI, as an independent Board member.
The Ondorse platform eases the pain of resource-intensive compliance tasks, enabling teams to take a risk-based approach to evaluating and verifying new and existing customers. By flipping compliance on its head, Ondorse is looking beyond traditional onboarding. With AI-driven remediation, automated ongoing due diligence, and a day-1 risk view, the solution is designed to ensure businesses can prevent fraud and money laundering and meet AML regulatory challenges such as AML6 and DORA in the E.U. and the Financial Services and Markets Act (FSMA) in the UK. Orchestrating with 100 vendor solutions, Ondorse unifies compliance, data, risk, and fraud APIs into a single API.
The complete compliance platform scans, remediates, monitors and onboards, covering the entire customer journey. By eliminating manual tasks such as copy-pasting KYB data, retrieving data and documents, and manual activity logging, customers have reported that the solution is delivering a 70% reduction in overall compliance costs and 95% reduction in manual compliance reviews.
The solution is the brainchild of its two founders: President Aymeric Boelle and CEO Florent Robert, who have first-hand experience in compliance and financial services. Aymeric has previously worked as a City lawyer in financial regulation and enforcement at Skadden, whilst Florent has held roles across the finance sector, from fintech founder to Deutsche Bank executive, after RBC and SocGen. Their experience inspired them to develop an innovative approach to manage onboarding and compliance workflows at scale and deliver immediate pain relief to compliance teams.
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