KYC Hub, the pioneering fintech firm specializing in compliance and due diligence automation, is thrilled to announce its victory in the prestigious 2023 Startups 100 Index. This accolade highlights the company’s relentless pursuit of innovation in the sector and its unwavering commitment to delivering cutting-edge solutions for combating financial crime.
Founded by Farnoush Mirmoeini and Jay Rao in 2017, KYC Hub has been at the forefront of using artificial intelligence to reduce the risk of financial fraud for firms drastically. By leveraging AI, the company has significantly cut down the customer onboarding process from a staggering six weeks to a single day, achieving a 95-98% reduction in false positives and a 90% decrease in alerts. This streamlined approach has resulted in a substantial 40-80% reduction in client operational costs, demonstrating the efficiency and effectiveness of KYC Hub’s technology.
In the face of increasing financial crime risks, including money laundering and fraud, KYC Hub has shown strong growth over the past year. We have successfully signed 55 new customers and won several industry awards. This success has fueled our ambition to double our workforce and seek Series A funding for further expansion.
Our success is not confined to our home base. KYC Hub has managed to secure clients in Dubai, APAC, Canada, and the US thanks to our flexible and automated approach to detecting and resolving financial crime risks. We have also launched new products, including an RPA-powered solution for customer risk detection and a real-time Scenario Engine for transaction monitoring – all testament to our commitment to continuous innovation.
We pride ourselves in offering an end-to-end integrated system that manages the entire financial crime lifecycle. Our platform provides seamless onboarding, monitoring, and dynamic risk detection, all wrapped up in one comprehensive solution. We are confident in our mission to simplify compliance processes while ensuring effective and adaptable risk management for organizations worldwide.
As the winners of the 2023 Startups 100 Index, we are committed to growing our enterprise customer base and continue to invest in research and development. This award is a testament to our relentless pursuit of excellence and innovation in financial crime compliance.
KYC Hub’s goal is to remain the ultimate platform for hassle-free KYC processes, and we are excited about the future as we continue to innovate and serve our customers around the globe. We are grateful for the recognition we have received through various awards and rankings in the industry and look forward to pushing the boundaries of compliance automation further.
Thank you to our dedicated team and valued customers for being part of our journey. Here’s to a future of continued success and innovation in compliance automation!