Home Biz Digital Payments Platform OVO Adopts Refinitiv World-Check to Boost KYC Capabilities...

Digital Payments Platform OVO Adopts Refinitiv World-Check to Boost KYC Capabilities and Prevent Financial Crime

Refinitiv Supports Compliance with Anti-Money Laundering and Regulations in Indonesia’s Fast-Growing Digital Economy

Rilispedia.com – OVO, Indonesia’s leading digital payments platform, has selected Refinitiv’s World-Check to support its Know-Your-Customer (KYC) and Anti-Money Laundering (AML) procedures to minimize its exposure to financial crime risks. This partnership comes at a time when OVO looks to continue the expansion of its business and to drive financial inclusion across the country.


With Indonesia’s push to build an inclusive digital economy and financial ecosystem, financial technology services such as OVO play an integral role in defining industry standards and enhancing measures to fight against financial crime.


According to Refinitiv’s annual financial crime report 2019, three-quarters of Asia Pacific organizations have been affected by financial crime over the past 12 months, leading to 60% of these businesses adopting new technologies to combat the issue.


World-Check is a highly structured database of intelligence on heightened risk individuals and organizations. Widely adopted by financial services companies, it supports the KYC and Third-Party Risk due diligence process and helps uncover risks associated with sanctions, organized crime, fraud, money laundering, bribery and corruption, as well as modern day slavery and country risk.


Phil Cotter, Managing Director of the Risk business at Refinitiv, said, “We are delighted to support Ovo in its journey to becoming Indonesia’s primary payment method with our trusted intelligence. As we continue to fight the uphill battle against financial crime, our World-Check offering meets the crucial KYC and third￾party screening needs for OVO to serve Indonesian consumers, as well as the regulatory obligations as it grows its business.”


Harianto Gunawan, Director at OVO, said, “OVO’s adoption of World-Check highlights our continued commitment to building a robust security infrastructure to support Indonesia’s vision for a future-proof and digital economy. It also ensures that we remain vigilant in countering financial crime, which is critical to the success and future of our business. As Indonesia’s digital economy continues on its path to growth, OVO will continuously evolve and adapt to anticipate our customer’s needs, while maintaining industry leading security standards.”


For complete information on World-Check, please visit here.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Xiaomi Pad 5 Manfaatkan Teknologi Dolby Hasilkan Pengalaman Terbaik

Rilispedia.com - Xiaomi, perusahaan elektronik konsumen dan teknologi manufaktur pintar yang berfokus pada smartphone, perangkat pintar, dan platform Internet of Things (IoT)...

Dukung Pelestarian Warisan Budaya Indonesia, SnackVideo Cari Duta Batik

Rilispedia.com - SnackVideo, aplikasi video pendek terkemuka di dunia, bekerja sama dengan Kementerian Pendidikan, Kebudayaan, Riset dan Teknologi Indonesia (Kemendikbud) meluncurkan program...

Jadi Mitra Resmi PON XX Papua, tiket.com Gelar Diskon Tiket Pesawat

Rilispedia.com - tiket.com, pionir Online Travel Agent (OTA) platform di Indonesia yang baru saja memperingati hari jadi ke-10, turut meriahkan PON (Pekan...

Intip Fitur Khusus Gamer di OPPO Reno6

Rilispedia.com - Saat ini banyak orang yang gemar memainkan game bahkan sampai kebablasan hingga kecanduan. Sejatinya, game diciptakan hanya untuk sarana hiburan...

Telkomsel Pastikan Kesiapan Jaringan Broadband dan Layanan Digital Terdepan untuk Perhelatan PON XX Papua 2021

Rilispedia.com - Telkomsel sebagai leading digital telco company dan bagian dari TelkomGroup selaku Official Platinum Telco Partner PON XX Papua 2021 siap...