KYCnet India - new subsidiary and new location!

Amsterdam - 8 September 2011

KYCnet announced today the official creation of a local subsidiary, KYCnet Pvt. Ltd., and a move to new offices in the Reheja Towers on the Anna Salai in Chennai.

Nearly a year to the date since KYCnet first started operations in India, this newly upgraded service desk will now provide multiple pools of experienced KYC analysts to KYCnet clients around the world.

The Chennai operation will provide complete coverage of all KYCnet current services and has been designed to anticipate and support future business needs in both current KYCnet markets and the local South Asian region. KYCnet best-in-class tools and processes permit seamless movement of work between global service desks. KYCnet also expects to have a steady flow of personnel travelling back and forth between their Europe and India service desks, thus sharing knowledge and re-enforcing personal and process bonds.

Chennai was initially selected for KYCnet's Indian expansion based on its solid track record in service delivery, its strategic location and access to a large and qualified local talent pool. Many global financial institutions already have some level of Anti-Money Laundering, Know-Your-Customer or Client Onboarding activity in India and KYCnet is pleased to join them in providing its higher-level Complex-Customer KYC services.

"I am pleased to announce the official launch of our subsidiary in India and the further availability of our world-class KYC services from and in this region", said KYCnet President and Co-Founder Patrick Ryan. "Strengthening our global delivery framework and expanding our presence in Asia are key elements of our multi-year growth initiative. Chennai is a strategic location for us, and we are committed to developing and expanding our capabilities here".

The Chennai center can operate 24 hours a day, seven days a week and expects to ramp-up in personnel quickly.

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