A Jersey based financial technology company has expanded its digital compliance platform in response to increasing regulatory expectations around the ongoing monitoring of corporate structures.
Tiller Technologies has released a new capability within its AML platform for KYB (Know Your Business) and CLM (Client Lifecycle Management) processes, enabling regulated firms to manage entity onboarding and ongoing reviews within a single digital process. The development reflects a wider shift across financial and professional services towards continuous oversight rather than one off checks at onboarding.
As corporate structures become more complex and multi jurisdictional, regulators are placing greater emphasis on firms maintaining up to date ownership information, audit trails, and evidence of ongoing risk assessment. This has increased operational pressure on trust companies, law firms, fund administrators and other regulated businesses that continue to rely on manual processes and fragmented systems.
Amy Bryant, Deputy Chief Executive Officer of Jersey Finance, said: “Jersey has built a strong international reputation as a forward looking and well regulated finance centre, with technology innovation playing an important role. As corporate structures become more complex, robust KYB processes are increasingly important in supporting strong governance, transparency and effective risk management.”
Jonathan Wauton (pictured), Chief Executive Officer of Tiller Technologies, said the changes reflect how regulatory expectations have evolved: “Firms are being asked to demonstrate continuous visibility over the structures they administer, not just point in time checks. This release is about supporting that shift and giving businesses a practical way to manage KYB across the lifecycle of a client.”
Kirsten Morel, Minister for Sustainable Economic Development, added: “FinTech innovation plays an important role in supporting Jersey’s sustainable economic development. Robust KYB solutions strengthen transparency, governance and confidence, and it is encouraging to see Jersey based businesses developing products that respond to growing global regulatory expectations.”
