KYK 0.00% 7.9¢ kyckr limited

I think that ISX and KYK are highly complimentary to each other....

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    I think that ISX and KYK are highly complimentary to each other.

    Whereas KYK operates in the KYB (Know your Business) arena, ISX operates in the KYC (personal) arena - see my post https://hotcopper.com.au/threads/an...s-paydentity.3500325/page-16?post_id=25449600 > if anyone is interested.

    Where KYK will have some challenges is against the incumbents, like Equifax/Veda, Dun & Bradstreet, Experian, Burea Van Dyke - to name a few. Theres no real IP in connecting to Government database, but, there may be economies of scale and smarter ways to do it. The MYDATA deal may be that, but, it still needs a strong sales effort against some mighty incumbents.

    ISX doesnt have these challenges, as the only way (pre ISX) to remotely identify people is by  certified documents, assuming that interview is not possible - which is also why/how they scored patents on their IP, which replace the face to face 100 point check. However, KYB (business) and KYC (person) go hand in hand. To deal with corporates as customers, you need both.

    SimpleKYC amused me today. Another KYB provider. These guys appear to tap the Government databases, scan the document, and extract the data. One step further than KYK in terms of process - but much much smaller country reach (Australia only?)

    I did have a laugh at the Fin Review article claiming Australia is one of the strictest  AML regimes in teh world. That would be news to Australia and the FATF Mutual Sovereign assessment team, that ranked Australia lower than Cyprus but juts above the British Virgin Isles. We still accept CASH for property deals, our lawyers, accountants and auditors are not bound by AML law (so dont need to report suspicious transactions), and, we have more loopholes than even Malcolm Turnbull can exploit for personal benefit. In fact, successive labour and liberal governments have buried heads as to treaty obligations, for fear of Chinese CASH drying up

    http://www.fatf-gafi.org/media/fatf...4/Mutual-Evaluation-Report-Australia-2015.pdf

    The good news is that both KYK and ISX work to EU AML requirements, which are beyond any doubt the toughest in the world. Will be interesting to see how KYK makes it against the incumbents. FINREV_SIMPLEKYC.jpg
 
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