Daxian, a recently launched Luxembourg-based compliance consultancy, and Know Your Customer, a Hong Kong-based regtech technology and services provider, have struck a deal to offer required background checks in the grand duchy.

Daxian will use Know Your Customer’s system to provide know your customer (KYC) and know your business (KYB) compliance services to investment firms in Luxembourg.

According to a company press release issued on 6 August 2024: “The partnership will leverage Daxian’s expertise in delivering tailored compliance services for complex scenarios and Know Your Customer’s innovative regtech solutions to provide clients with a comprehensive suite of compliance offerings. Together, the two firms will offer a comprehensive suite of compliance services, including business KYC and KYB onboarding, regulatory reporting, periodic reviews, and more. By offering direct connections to over 140 company registries globally, Know Your Customer will empower Daxian to access 100% accurate, official data to support the intricate compliance requirements of its clients operating in high-risk or complex situations.”

“This partnership also presents the opportunity to adopt Know Your Customer’s industry-leading regtech solution, helping us redefine manual compliance processes for our clients and deliver higher efficiency, greater accuracy, and reduced costs,” Gaétan Rio, partner and director of compliance at Daxian, stated in the announcement.