- Kyckr has signed a reseller agreement with illion Australia
- illion will be able to resell Kyckr’s technology and solutions to new and existing customers across Australia and New Zealand
- The total market for the Know Your Customer is growing and is expected to reach $16.4 billion in 2023
Global intelligence company, Kyckr has signed a reseller agreement with illion Australia.
illion is a leading provider of data and analytics products within Australasia. Its consumer and commercial registries can access data on over 24 million individuals and over 2 million commercial entities. to provide end-to-end customer management solutions to clients.
Under the agreement, illion will be able to resell Kyckr’s market-leading technology and solutions to new and exisiting customers across the Australia and New Zealand.
illion currently delivers data and analytics services to major and mid-tier banks across a broad range of sectors.
With Kyckr’s technology, the agreement will aim to accelerate collaboration within these sectors.
Kyckr is a global regulatory technology business and provides technology solutions. Its solutions are connected to over 200 offical registries, 120 countries and over 170 million legal entities.
The company has one of the largest platforms for Know Your Customer (KYC) and Anti-Money Laundering (AML) data globally with over 200 registries, providing company registry information on over 170 million businesses.
These platforms help clients prevent money laundering and financial crimes.
The market for KYC is growing rapidly and is expected to reach $16.4 billion in 2023.
Kyckr CEO, Ian Henderson is pleased to be working with illion.
“The agreement aligns with our focus to create relationships encompassing global data providers and commercial credit bureaus, enabling us to fast track our exposure to new customers and revenue growth channels,” he said.
Illion’s CEO Simon Bligh agrees with Ian and is excited by this opportunity.
“We will expand the capability of our existing class leading AML/KYC digitised on boarding and ongoing customer due diligence solutions to automatically assess global ownership structures,” he said.
Last week, Richard White became a major shareholder for Kyckr and he now holds 19.6 per cent of the company’s shares.
The company had a booming week last week, with shares more than doubling in price.
“We believe this agreement will present opportunities to expand our footprint even further,” Ian added.
Kyckr shares gained 29.17 per cent this morning, selling shares for 31¢ apiece at 11:55 am AEST.