Kyash Expands Financial Services with TRUSTDOCK

Kyash is a fintech company based in Tokyo offering various online banking services. While not established as a bank, Kyash is endeavoring to provide features traditionally provided by banks, but electronically and without the need to visit a brick-and-mortar institution. This concept has been gaining popularity in Japan, especially among the younger generations.

Kyash Wants to Bring Banking Beyond Banks

Even though Kyash is not technically a bank, the company still wants to provide services much like a financial institution. This started with online payment apps and “virtual” credit cards, but the company’s expansion plans include checking accounts, ATM transactions, and more. Kyash is truly embodying both the “fin” and “tech” in “fintech”.

Regulations Slowed Onboarding for Kyash Customers

However, merging tech and finance in Japan still must comply with the country’s rigorous regulations. It was taking around two weeks from application to issuance for their credit card services. And in order to provide its customers with the type of service they would expect from a high-tech firm, they would have to speed up their identity verification process.

TRUSTDOCK Takes on eKYC for Expedited Verification

After spending around three years trying to solve this problem, Kyash found TRUSTDOCK. Using our eKYC and anti-money laundering tools, we dramatically reduced Kyash’s customer onboarding and credit card issuance timeline. Now, Kyash has around half a million customers and has been growing at the rate of 30,000 new registered users monthly. With this success, the company was able to raise over US$14m to fund their operations and expansion.

Leverage TRUSTDOCK’s Established Expertise for You

Are you looking to streamline your KYC and CDD processes to speed up onboarding while still in full compliance with current regulations? TRUSTDOCK has proven solutions that can help your company streamline your verification process so that you can focus on wowing investors with your growth. Get in touch today and find out how TRUSTDOCK can help you!

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