Kyckr launches on MYDATA Malaysian registry portal
[ClickPress, Thu Jun 22 2017] Highlights
• Kyckr launches on the MYDATA portal, allowing its users to access company registry information from 186 official registries across 128 countries and ~80 million companies
• Promotion of Kyckr’s services follows the signing of an exclusive agreement with MYDATA; one of two approved sellers of Malaysian company registry data, in January 2017
• Revenue will be generated on a ‘per-click’ basis, with users paying for each report or corporate filing accessed using Kyckr’s services
• The promotion of Kyckr’s services by MYDATA is expected to drive revenues from Malaysia and South East Asia
Kyckr Limited (ASX:KYK) (Kyckr or the Company), a regulatory technology company, is pleased to announce that MYDATA users are now able to purchase international company information via the MYDATA portal, using Kyckr’s services.
The availability of Kyckr’s services via the MYDATA portal follows the signing of an exclusive agreement with MYDATA as announced on 30 January 2017. Under the agreement, Kyckr will generate revenues on a ‘per-click’ basis as users of the MYDATA site access Kyckr’s portal to search for registered company information and pay to access reports and official company filings from 186 official registries, across 128 countries and covering an estimated 80 million companies.
The launch of Kyckr’s services on the MYDATA portal is expected to drive an increase in the revenue generated from South East Asia and Malaysia specifically, and significantly builds on the Company’s presence in the region.
MYDATA is one of two officially approved online sellers of Suruhanjaya Syarikat Malaysia (SSM) information. SSM is a statutory body in Malaysia that serves as an agency to incorporate companies and register businesses as well as provide business information to the public and is Malaysia’s equivalent of Australian Securities and Investments Commission (ASIC). The MYDATA portal allows users to obtain current company registry data on over 7 million registered businesses in Malaysia: https://www.mydata-ssm.com.my.
Kyckr has also integrated MYDATA’s APIs into its international portal: https://portal.kyckr.com/, with both parties promoting the others complementary registry and data services under the agreement.
David Cassidy, Kyckr’s Managing Director said: “We’re pleased to announce that with Kyckr’s services available on the MYDATA portal, Kyckr’s international company information is now being actively promoted by MYDATA to their user base. This agreement provides us with direct access into an established customer base in Malaysia and follows a model we are actively looking to replicate as target expansion of Kyckr’s services in other Asian countries”.
In Malaysia, the ASIC equivalent, SSM (Suruhanjaya Syarikat Malaysia) does not sell data online. It has had an exclusive arrangement with another party to do this until a year ago where it then extended this to MYDATA as a duopoly arrangement. MYDATA has shown SSM greater technical and marketing capabilities that the incumbent to win this right to market SSM’s Malaysian company information online and in the last year has delivered greater performance than the incumbent in the Malaysian market.
To learn more about Mydata, visit https://www.mydata-ssm.com.my
About Kyckr Limited
A global regulatory technology (RegTech) business, Kyckr provides technology solutions to help protect against money laundering, fraud and tax evasion. Kyckr’s solutions are connected to over 186 regulated primary sources, in 124 countries, providing real-time company registry information on over an estimated 80 million businesses globally. Kyckr provides an automated technology solution to maintain up to date critical company identity information, in place of the traditional error and fraud prone manual people based processes. Globally, the legal requirement to meet compliance obligations continues to increase as does the need to validate against business registers. The annual spend by financial institutions on compliance is forecast to be $120 billion by 2020, thereby providing a very large opportunity for Kyckr.
To learn more about Kyckr, visit www.kyckr.com