Bits Technology

We’re pleased to announce our partnership with Cardboard, a fast-growing FinTech company from Norway. Together we’ll streamline onboarding and compliance processes as they expand across Europe. By working with Bits Technology, Cardboard will enhance their KYB verification and automate key workflows, as they scale into new markets like Sweden and the UK. Learn more about our collaboration in our blog. Link in the comment.

Is your team struggling with slow, manual onboarding and compliance processes? Are disconnected systems and high costs hindering your compliance operations? Join our Webinar on the 22nd of October to explore how Bits Technology, the Suite for the Entire Compliance Lifecycle, can streamline onboarding, automate KYC/AML checks, and centralize customer data for smoother case management, risk scoring, and monitoring. Key Challenges We’ll Address: ✅ Inefficient onboarding and KYC processes causing churn and lost revenue ✅ Disconnected systems complicating data management and risk scoring ✅ High costs from manual processes and internal tools ✅ Lengthy integrations and change requests with third-party vendors 💡 We’ll demonstrate how Bits Technology can solve these challenges and get you up and running in minutes. Plus, we’ll reveal exciting new features, and by attending, you’ll receive limited free access to evaluate them at no cost. 📅 Date: 22nd of October, 10-11AM CET 🔗 Register Now: http://bit.ly/4evLF8w

We are absolutely delighted to getting to know our next mate growing the Bits business with us in the UK! 👀🇬🇧

Join us in Copenhagen next week! Fredrik Eriksson and Oscar Hjern will be attending Nordic Fintech Week, ready to discuss financial crime prevention and share how we help businesses streamline and automate their onboarding, KYC/B, and AML processes with the growing regulatory complexities. Want to meet up?  Reach out and we’ll grab a coffee

Bits Technology launches automated KYB in Italy! 🇮🇹 Our platform now simplifies regulatory compliance by staying updated with Italian and EU AML directives, ensuring businesses remain compliant with minimal effort. It integrates multiple Italian business registries and data sources into a unified platform, providing instant access to accurate and comprehensive business information. Businesses in Italy can now streamline their onboarding process, reduce risks, save time, and maintain full compliance with local and international regulations using Bits Technology’s automated KYB solution. Reach out to our Commercial team, Fredrik Eriksson, Oscar Hjern or Erland Böckenförde to get a demo! Read more about our launch in our blogpost, link in comments. 🔗

Protect your business from financial crime with Bits' customizable AML screening and monitoring. Our dynamic, risk-based approach helps you identify suspicious activities, ensure regulatory compliance, and safeguard your reputation. By tailoring settings to your organization's needs, we balance compliance with efficiency, allowing you to focus on high-risk areas while maintaining operational integrity. Stay compliant, avoid reputational damage, and keep your business secure with Bits. Read the full article below. Link in comments.

At Bits, we've been working hard lately on what we call "Project Entities" or "Holistic Identity Profiles". For us, an entity is a digital representation of an individual or organization and all the data points we've collected about them, including their relevant relationships, such as board members, beneficial owners, and group ownership structure. Read more in our blog post where our Senior Engineers, 🦄🎮🍉 Kim Öberg and Birger Rydback explains what entities are and how they are built to revolutionise the way organisations manage KYC and KYB onboarding. Link to blog post in comments 👇

Building your own onboarding system may seem appealing, but it often proves to be more complex, costly, and time-consuming than expected. Our Head of Engineering, Max Teleman, discusses the common challenges companies face when they choose to build in-house, and why outsourcing to a specialized service like Bits can offer a more efficient and sustainable solution. Link in comments 👇

Enhancing Onboarding Processes with Multi-Checks KYB 🌐 With the regulatory landscape and modus operandi of criminals constantly changing, it requires businesses not only to have robust Know Your Business (KYB) procedures in place but also to have the flexibility to change a procedure if new risks are identified to ensure compliance, work proactively, and build trusted relationships with customers and supervisors. At Bits Technology, we’re proud to announce the integration of multi-checks for KYB within our onboarding procedures. What does this mean for our customers and partners? It means a profound due diligence procedure through multiple layers of verification, ensuring that every business we onboard undergoes thorough scrutiny, aligning with global regulatory standards. This not only safeguards our customers' fight against financial crime but also fosters transparency and trust in all our relationships. Key benefits of our multi-checks KYB approach include: ✅ Enhanced Risk Management: Identifying potential risks associated with customers’ businesses early in the onboarding process. ✅ Compliance Assurance: Adhering to regulatory requirements across jurisdictions with comprehensive due diligence. ✅ Efficiency Gains: Streamlining onboarding without compromising thoroughness, reducing turnaround times. As we continue to innovate and adapt to industry demands, integrating multi-checks KYB underscores our commitment to delivering secure and compliant solutions. Join us in shaping the future of business integrity and trustworthiness. To learn more about Multi-KYB Checks reach out to Fredrik Eriksson and Oscar Hjern

In response to what we're hearing from customers about the critical need to identify and manage AML risks effectively, our Head of Product and Compliance, Marcus Björklund, is writing this blog post to emphasize the importance of calculating AML risk scores and how to achieve this effectively. This process is essential for customers as it enables them to stay compliant and proactively address potential threats, ensuring the security and integrity of their operations. Link to the full blog post in the comments.