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Regtech start-up Ondorse signs PayXpert, Assurdeal and Kota in UK and Ireland expansion push
Paris-based compliance automation platform Ondorse has announced its continued expansion into the UK and Ireland, securing three new client deals.
The latest additions to Ondorse’s client roster include UK-based payment processing company PayXpert, controlled by French banking group Société Générale since 2022, insurance portfolio broker Assurdeal, and Dublin-based insurance and retirement platform Kota.
These firms will implement Ondorse’s AI-powered know-your-business (KYB) solution, which automates and accelerates complex compliance processes. This solution helps businesses verify customers more efficiently and reduce compliance operational costs, with a strong focus on mitigating money laundering and financial crime.
Ondorse’s KYB solution aims to eliminate manual compliance tasks, such as data entry, document retrieval, and activity logging. Previous clients, including insurance unicorn Alan, have reported a 70% reduction in overall compliance costs and a 95% reduction in manual compliance reviews.
Founded in 2021 and supported by $6.63 million in total funding, Ondorse plans to hire new staff and recruit partners as part of its expansion into the UK and Ireland. The company also plans to open a UK office next year following its recent commercial success.
To support these initiatives, Ondorse has appointed senior OpenAI executive Olivier Godement as an independent board member.
“The UK is pivotal for the next stage of our growth within Europe, and we know there’s a significant opportunity to support the financial sector here,” said Ondorse CEO Florent Robert. “We’re looking forward to building on our current client base and securing new opportunities to help companies in this region meet the growing challenge of reducing financial crime.”
Source: fintechfutures.com
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