KYB solutions provider, Ondorse, has secured major contracts with PayXpert (Societe Generale), Kota and Assurdeal in its bid to expand into the UK and Ireland.

Since its launch in 2021, the Paris, France-based provider has raised total funding of £5.2m over two rounds, and has expanded its client base to include major European companies.

Commenting on the announcement, President Aymeric Boelle said: “For too long, compliance teams have relied on outdated, complex and manual processes to verify customers and assess risk. This not only adds to the operational cost of compliance but leaves organisations exposed to severe regulatory penalties. We wanted to rewrite the rules and create a smarter, more user-friendly way for them to handle compliance cases.

“By freeing up the team’s time from a ‘checklist’ of repetitive tasks, they can focus on work higher up the value chain. This is ever more important in rooting out the sophisticated threats that fraudsters use to conceal their funds. Ultimately, we want to eliminate the pain, make teams’ lives easier and transform compliance into a valuable investment rather than a cost.”

“CEO Florent Robert added: “The UK is pivotal for the next stage of our growth within Europe and we know there’s a significant opportunity to support the financial sector here. We’re looking forward to building on our current client base and securing new opportunities to help companies in this region meet the growing challenge of reducing financial crime.”

Ondorse recently welcomed Olivier Godement, a former OpenAI executive, as an independent board member. The company plans to open an office in the UK next year.

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