DBS Hong Kong improves SME digital account opening across 140 markets

It partnered with Know Your Customer for the AI automated solution.

DBS Hong Kong has collaborated with Know Your Customer Limited to improve digital account opening for small and medium enterprise (SMEs) in the city.

DBS Hong Kong will make use of Know Your Customer’s digital compliance platform to gain real-time access to business verification data; DBS Hong Kong collaborates with Know Your Customer Limited to further improve digital account opening for SMEs.

This includes instant retrieval of official company documents and automatic identification of complex ultimate beneficial ownership (UBO) networks across over 140 jurisdictions.

This AI-powered automation solution is expected to streamline SME onboarding processes.

“By engaging Know Your Customer, we leverage advanced technology to streamline CDD workflows, delivering faster service to our customers,” said Lareina Wang, head of SME Banking, DBS Hong Kong.