The UK-based subsidiary of the Bank of Ceylon (BOC UK), Sri Lanka’s largest bank, has formed a strategic partnership with fintech Sikoia.
The partnership will integrate Sikoia’s customer verification solutions into the bank’s onboarding process, in a bid to streamline verification procedures for customers.
Sikoia will provide BOC UK with access to identity verification, Politically Exposed Persons (PEPs) and sanctions checks, adverse media checks, automated processing of customer application documents, company credit bureau reports and more.
Madhawa Dissanayake, chief executive officer and executive director of Bank of Ceylon (UK), said: “Our partnership with Sikoia marks a pivotal step in our digital transformation journey, aligning with our commitment to enhance customer experience and operational efficiency.
“By integrating Sikoia’s advanced KYC and KYB solutions, we are significantly reducing the time and complexity involved in our verification processes for both individual and business clients.
“This collaboration will not only streamline our onboarding procedures but also ensure a higher level of compliance and security, which are crucial in today’s financial landscape.”
Alexis Rog (pictured), founder and CEO of Sikoia, added: “We’re thrilled to partner with the Bank of Ceylon to enhance their onboarding process with our comprehensive KYC and KYB solutions.
“This collaboration showcases Sikoia’s ability to provide robust customer verification capabilities that seamlessly integrate into the bank’s systems, streamlining the process for both individual and business clients.”
