Ultimate Business Owner

In an increasingly changing and regulated environment, understanding key parties and decision makers associated with businesses is becoming more important.

Know Your Customer (KYC) is the due-diligence and regulations that banks, financial services firms, payment services providers and many other organisations must perform to identify their customer and ascertain relevant information from them to perform business with them.

KYC controls are designed to prevent identity fraud, money laundering and terrorist financing. While the need for the control is understood and accepted, its current methods of implementation may be costly to operate, contains significant duplication of work and has negative impacts to both end-customers and organisations.

Find hidden Ultimate Business Owners and understand overall credit risk exposure

Researching and documenting the full ownership of your customers is a manual and time consuming process, which is why Experian can help you to carry out these checks, quickly and easily.

• Find hidden UBO’s in the full corporate tree
• Support Anti Money Laundering (AML), sanctions and tax reporting requirements
• Identify the beneficial ownership throughout the full corporate structure
• Improve customer on-boarding by creating fewer administrative delays
• Reduce costs of manual checking
• Keep informed of changes to customers’ business ownership
• Understand the ownership risks in your current customer portfolio

How does it work?

We’ve created a unique algorithm that analyses the full corporate tree. Those with an equal or greater than shareholding of 10% are then identified.

Experian continues to add enhancements to further develop the existing service to adapt to both market trends and the user experience. Concurrently, our development team is diligently working to find any opportunity to improve this proposition. One of the latest enhancements includes PSC data.

This is the additional Company Information now available from the Companies House, based on the self-declared Companies reports and could be integrated with the UBO service.

A PSC is defined as anybody in a company, LLP or SE (Societas Europea) who meet one or more of the conditions listed within the legislation. This includes someone who:

1. Owns more than 25% of the company’s shares
2. Holds more than 25% of the company’s voting rights
3. Holds the right to appoint or remove the majority of directors
4. Has the right to, or actually exercises significant influence or control
5. Holds the right to exercise or actually exercises significant control over a trust or company that meets one of the first 4 conditions

UBO data will identify individuals meeting points 1 and 2 (above). The addition of the PSC data will identify the additional individuals matching points 3-5, further supporting your KYC requirements (especially within Banking and Financial Services).

Over and above PSC register, Experian UBO mechanism also identifies significant shareholders across all levels of corporate tree and is available for the historical data.