s Gain Insight into Your Business by Using SimpleForms

SimpleForm, based in October 2020, offers the "SimpleCheck" service. With just a corporate name, you can access information on more than 5 million entities across the country instantly, and receive a company report along with risk data that SimpleForm has independently gathered and identified - all in 30 seconds. In March 2021, Incubate Fund and other investors provided SimpleForm with an initial investment of JPY 50m; followed by JPY 150m in December 2021. A JPY 680m Series A round was subsequently led by DNX Ventures in May 2022. Moreover, SimpleForm has also obtained JPY 70m in debt financing. SimpleCheck can be tailored to fit a range of business needs, such as analyzing and leveraging various data sets. It also provides consulting on operations, creating screening systems, and other aid. Since being launched in June 2022, more than 50 firms, mainly big financial institutions, corporations, and websites, have implemented the service. Most recently, Resona Bank announced on December 12 that it had adopted SimpleCheck in its corporate set-up procedure. SimpleForm benefited from the August 2021 release of the Financial Action Task Force's (FATF) fourth Mutual Evaluation of Japan, which gauged the nation's anti-money laundering (AML) and Know Your Customer (KYC) regulations as "better, but still not satisfactory". This notion was reinforced in the October Follow-up Report on Japan, however, the Financial Services Agency pushed financial institutions to create systems by the end of the fiscal year (March 2024) since Japan will report back to the FATF on the AML/CFT measures they've implemented by then. Moreover, in retail banking, online account creation has become ubiquitous, and this has also become a more frequent practice in corporate banking, thus necessitating the need for systems to back up a formerly face-to-face execution. We encountered Markaaz, based in Austin, Texas, as the victor of the regional scale-up competition for Hong Kong FinTech week. Markaaz has constructed a special directory of more than 300 million global business records, which enables companies to enhance their SME onboarding and oversight. Be sure to check out our Tokyo FinTech Publication for your daily dose of news and analysis from our writers. Don't miss out on our "Japan FinTech Observer" short weekly digest - subscribe now on Medium or LinkedIn. Hundreds of readers enjoy it every day! If you are living in Tokyo or simply passing through, do not forget to attend our Tokyo FinTech Meetup. Additionally, you can follow us on our YouTube channel and LinkedIn page.

Source: https://medium.com/tokyo-fintech/know-your-business-with-simpleform-c5422ca91784?source=rss------fintech-5