Filipino BaaS player Netbank picks Chekk for KYC services
Philippines-based Netbank has selected Chekk to provide its know your customer (KYC) and know your business (KYB) services.
Netbank aims to help fintechs launch quickly
Netbank, founded in 2019, is a fully regulated financial institution in the Philippines. It offers Banking-as-a-Service (BaaS) and white-label solutions to fintechs in its home market and beyond.
Its portfolio covers loans, account opening services, payments, card issuance, and digital banking. It says it already provides services for several alternative lenders and one neobank.
“We provide a full range of banking services to fintechs and financial institutions migrating to digital,” the firm writes.
“We will soon manage payments for a wide range of fintechs, issue cards and open ‘purpose-driven’ accounts.”
The company says it “thinks like a fintech and moves like a fintech” to provide services that “only a bank can offer”.
Netbank is a product of local Community Rural Bank of Romblon, a financial institution based in the archipelagic province of Romblon.
Hong Kong-based Chekk provides what it calls “out of the box” cloud-hosted anti-fraud and KYC solutions.
It claims its systems can enable end users to authenticate accounts in 30 seconds across more than 190 countries.
