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Juroku Bank Strengthens Compliance Measures

In a significant move to bolster its defenses against money laundering and terrorist financing, Juroku Bank has adopted the compliance solution Compliance Station® UBO offered by Tokyo Shoko Research (TSR). This initiative marks a proactive phase in improving the financial institution's ongoing customer management.

Background on the Implementation

In recent years, the importance of continuous customer management within financial institutions has escalated. As cases that challenge traditional operational methods grow in number, the key concern has been achieving a balance between reducing operational burdens and enhancing the effectiveness of management strategies. Juroku Bank identified the urgent need to address these challenges effectively.

To confront this pressing issue, the bank explored solutions that would simultaneously enhance and streamline its customer management. By integrating TSR's Compliance Station® UBO series, Juroku Bank aims to bolster its risk assessment capabilities regarding corporate ultimate beneficial owners (UBOs) and access vital information necessary for customer risk evaluation. This integration will enable timely detection of shifts in such information, providing the bank with a pathway to develop a more sophisticated and efficient customer management regime. TSR has committed to further supporting Juroku Bank by enhancing its product development and support systems moving forward.

Overview of the Service

The Compliance Station® UBO is a proprietary UBO check tool developed by TSR’s partner company, Compliance Data Lab, Inc. By inputting a company name on the online interface, users can leverage TSR's extensive coverage of corporate data, which is one of the largest in Japan. The tool uses a unique algorithm to identify the UBOs of the target companies and provides essential details such as company name, address, representative, industry, and corporate number.

The search functionality of the Compliance Station is versatile, allowing for both single queries and bulk processing of large datasets. Importantly, if a corporate number is available, users can efficiently process up to 300,000 corporate entities in approximately three minutes. The Compliance Station is a registered trademark or trademark of Compliance Data Lab, Inc.

>> For more details on Compliance Station® UBO, visit here

About Tokyo Shoko Research (TSR)

Founded over 130 years ago, TSR is recognized as Japan's oldest credit research company. With its headquarters in Chiyoda, Tokyo, TSR operates one of the largest corporate databases in Japan, containing over 10.44 million entries. The firm plays a crucial role in the country's economic activities through its credit investigation services and its extensive network. Additionally, TSR is the sole partner of Dun & Bradstreet (D&B), the world's leading corporate information provider in Japan, offering access to approximately 639.94 million company records worldwide. For more information, visit TSR.