Iyo Bank Enhances Anti-Money Laundering Measures with TSR Compliance Solution

Iyo Bank Partners with TSR for Enhanced Compliance Measures

Iyo Bank has recently announced the integration of Tokyo Shoko Research's (TSR) compliance solution, known as the Compliance Station® UBO, to bolster its measures against money laundering and terrorist financing. This partnership aims to enhance the bank's ability to regularly verify and update customer information, including corporate clients, which is critical in today's financial landscape.

Background of the Integration

As part of its commitment to combat money laundering and terrorism financing, Iyo Bank actively engages in regular checks and updates of customer information. The decision to adopt TSR's Compliance Station® UBO signifies the bank's intent to leverage advanced corporate data analytics. By integrating this tool, the bank aims to improve its customer management capabilities significantly.

The Compliance Station® UBO will enhance the efficiency of customer data verification and management at Iyo Bank. This tool is designed to provide swift and comprehensive checks on substantial data sets, allowing the bank to identify the beneficial owners within a matter of minutes.

Features of Compliance Station® UBO

The Compliance Station® UBO, developed by Compliance Data Lab Co., Ltd., is a powerful beneficial owner check tool. When users search for a company name on the platform, it mobilizes one of the largest corporate information coverage databases in Japan, leveraging unique algorithms to identify the beneficial owners of the target company. Basic information, including company names, addresses, representatives, industry types, and corporate numbers, is efficiently provided.

One of the standout features of this tool is its capability to process data both individually and in bulk. When provided with corporate numbers, the system can analyze up to 300,000 corporations in approximately three minutes, proving its efficiency and utility for financial institutions like Iyo Bank.

TSR’s Continuous Support to Iyo Bank

In addition to facilitating the immediate integration of the Compliance Station® UBO, TSR is committed to providing ongoing product development and support to ensure Iyo Bank's customer management systems continually meet regulatory compliance. This collaborative effort emphasizes TSR's dedication to enhancing the compliance landscape for financial institutions in Japan.

About Tokyo Shoko Research (TSR)

Founded over 130 years ago and based in Otemachi, Chiyoda-ku, Tokyo, TSR is Japan’s oldest credit research company. It boasts a comprehensive database with over 10.36 million corporate entries and a vast network extending across 82 locations in Japan. Additionally, TSR serves as the exclusive partner of Dun & Bradstreet (D&B), a leading global corporate information provider, granting access to an extraordinary database of over 630 million corporate records worldwide. This substantial experience and expertise underline TSR's pivotal role in reinforcing the financial infrastructure in Japan.

For more details about the Compliance Station® UBO, you can visit the TSR official website: https://www.tsr-net.co.jp/.