Digitally transforming Complex Compliance Processes

Understanding Beneficial
Owners and Transparency

Beneficial Ownership and Controller identification and verification is now an essential requirement of the client KYC and AML process.

Obliged entities must apply customer due diligence when entering a business relationship.

Lack of transparency and failure to understand beneficial ownership contributes to the growth of money laundering, fraud, and terrorism financing.

It is all too easy for criminals to hide behind shell companies and legal structures.

The changing regulatory landscape, coupled with the challenging nature of reliable Beneficial Ownership information, makes an already time-consuming and inefficient process even more tedious. Onboarding times are still rising, causing customer delays.

Financial institutions claim that on average it takes 26 days to onboard a new client, However, corporate customers claim that on average it takes 32 days.-

Thomson Reuters

Our Story

When Ben Cronin founded Global Business Register Ltd, originally EBR Direct, in 2007, his goal was to give customers access to the best primary sources available.

After working with thousands of clients across various industries, he realized that primary source data could only be best-in-class if it could be verified in real-time.

Our Story Illustration

Recognizing that there was a lack of Ultimate Beneficial Owner data on the market, Ben teamed up with industry leaders to establish UBO Service in 2020.

Through an entirely transparent and accessible declaration process, UBO Service not only provides you with reliable data that exceeds compliance requirements but also enables you to make better business decisions.

1991

Prior to the official EU formation, AMLD1 is released as Europe’s first framework for user identification, suspicious transaction reporting, and customer due diligence.

2001-2006

AMLD2 is released to update AMLD1.

Richard sets up ERS Limited
to build and operate Registry Solutions. ERS begins to operate a Companies Registration Office in Ireland, but quickly expands and builds the European Business Network (ERB) with JFSC and provides real-time access to primary source data in Europe.

AMLD3 is announced and now applies to lawyers, accountants, casinos, and real estate agents.

2007-2010

Ben sets up EBR Direct to provide real-time access to primary source data across Europe to customers like Deutsche Bank, UBS, BOI and Bloomberg. In 2010 ERB rebrands as GBR and has over 100 registries globally.

Meanwhile, Kevin is working as a technical consultant in Europe and the middle east, helping business registries design and build their national information systems.  Joins the BRITE project and other pan European interoperability projects funded by the EU. He is later appointed as the technical manager of the European Business Register. 

2012-2015

GBR now the biggest registry network in the world with more than 200 registers globally. By 2015, ERS is now wholly owned by ISC which is listed on the Toronto Stock Exchange.

Kevin sets up Tower 81 Consultancy and takes on a coordination role on the EBOCS project to help provide counter crime agencies with access to ownership and control information from source business registers.

2017-2018

GBR rebrands to Kyckr, coinciding with an IPO on the Sydney Stock Exchange.

The 4th Anti Money Laundering Directive comes into effect. Under this directive, corporate and other obliged entities are required to maintain accurate UBO records.

Kevin supports the financial regulator in the Jersey, Channel Islands design and implement a central register of Beneficial Ownership and control.


GDPR comes into effect in Europe in 2018 to protect personal data and replace the Data Protection Act of 1998.

2020

The 5th Anti Money Laundering Directive comes into effect. UBO registers are now accessible to the public and must include trusts. Companies are now required to have adequate, accurate and current beneficial ownership data.

UBO Service goes live

Prior to the official EU formation, AMLD1 is released as Europe’s first framework for user identification, suspicious transaction reporting, and customer due diligence.

AMLD2 is released to update AMLD1.

Richard sets up ERS Limited
to build and operate Registry Solutions. ERS begins to operate a Companies Registration Office in Ireland, but quickly expands and builds the European Business Network (ERB) with JFSC and provides real-time access to primary source data in Europe.

AMLD3 is announced and now applies to lawyers,
accountants, casinos, and real estate agents.

Ben sets up EBR Direct to provide real-time access to primary source data across Europe to customers like Deutsche Bank, UBS, BOI, Bloomberg. In 2010 ERB rebrands as GBR and has over 100 registries globally.

Meanwhile, Kevin is a technical supervisor for BRITE and BRIS and works on pan-EU interoperability projects funded by the EU. He later works on the EBR and SPOCS EU project.

Peter becomes Director of Enforcement & Financial Crime Central Bank of Ireland.

GBR now the biggest registry network in the world with more than 200 registers globally. By 2015, ERS is now wholly owned by ISC which is listed on the Toronto Stock Exchange.

Kevin sets up Tower 81 Consultancy and takes on a coordination role on the e-CODEX Project.

Peter becomes CRO & MLRO Bank of America Merchant Services, and in 2015 sets up Fintech UKand Fintech Ireland.

GBR rebrands to Kyckr, coinciding with an IPO on the Sydney Stock Exchange.

Peter founds Privacy Ireland in 2017 and CompliReg in 2018.

The 4th Anti Money Laundering Directive comes into effect. Under this directive,corporate and other obliged entities are required to maintain accurate UBO records.

The GDPR comes into effect in Europe in 2018 to protect personal data and replace the Data Protection Act of 1998.

The 5th Anti Money Laundering Directive comes into effect. UBO registers are now accessible to the public and must include trusts. Companies are now required to have adequate, accurate and current beneficial ownership data.

UBO Service goes live

Prior to the official EU formation, AMLD1 is released as Europe’s first framework for user identification, suspicious transaction reporting, and customer due diligence.

1991
2001-2006

AMLD2 is released to update AMLD1.

Richard sets up ERS Limited
to build and operate Registry Solutions. ERS begins to operate a Companies Registration Office in Ireland, but quickly expands and builds the European Business Network (ERB) with JFSC and provides real-time access to primary source data in Europe.

AMLD3 is announced and now applies to lawyers, accountants, casinos, and real estate agents.

Ben sets up EBR Direct to provide real-time access to primary source data across Europe to customers like Deutsche Bank, UBS, BOI and Bloomberg. In 2010 ERB rebrands as GBR and has over 100 registries globally.

Meanwhile, Kevin is working as a technical consultant in Europe and the middle east, helping business registries design and build their national information systems. Joins the BRITE project and other pan European interoperability projects funded by the EU. He is later appointed as the technical manager of the European Business Register.

2007-2010
2012-2015

GBR now the biggest registry network in the world with more than 200 registers globally. By 2015, ERS is now wholly owned by ISC which is listed on the Toronto Stock Exchange.

Kevin sets up Tower 81 Consultancy and takes on a coordination role on the EBOCS project to help provide counter crime agencies with access to ownership and control information from source business registers.

GBR rebrands to Kyckr, coinciding with an IPO on the Sydney Stock Exchange.

The 4th Anti Money Laundering Directive comes into effect. Under this directive, corporate and other obliged entities are required to maintain accurate UBO records.

Kevin supports the financial regulator in the Jersey, Channel Islands design and implement a central register of Beneficial Ownership and control.

GDPR comes into effect in Europe in 2018 to protect personal data and replace the Data Protection Act of 1998.

2017-2018
2020

The 5th Anti Money Laundering Directive comes into effect. UBO registers are now accessible to the public and must include trusts. Companies are now required to have adequate, accurate and current beneficial ownership data.

UBO Service goes live

Meet the team

Our core team is composed of leaders in the Regtech and KYC/AML space. They know the industry and how important it is for companies to have access to accurate UBO information.

Ben Cronin

Ben Cronin

Ben founded Global Business Register (GBR) in 2007. Within 3 years the GBR service was being used by 15 of the top 20 banks in the world. GBR was sold to Kyckr Australia in 2016 and is listed on the Sydney Stock Exchange.

Kyckr has developed API’s and cloud-based decision engines for Best in Class KYC due diligence and customer on-boarding. Since leaving Kyckr in January 2020 Ben has been focused on creating a reliable, accurate and current UBO declaration service.

Richard Wood

Richard Wood

In 2002, Richard co-founded Enterprise Registry Solutions (ERS) - www.ersl.ie, a company specialising in the provision of solutions to operators of national registers such as company and beneficial owner registries.  

At ERS, Richard was responsible for solution development along with other general management and business development activities. In January 2017, the company was bought by a quoted Canadian registry operator (www.isc.ca). Since leaving ERS in December 2019 Richard has been focussed on building our UBO Service solution.

Kevin Kerrigan

Kevin Kerrigan

Kevin founded Tower 81 Associates in 2012.  In his role as Managing Director, Kevin has provided strategic, operational and technical advisory services to registrars and regulators supporting a range of sectors including corporate and legal entities, intellectual property, pension, charity, security interests, aviation and licensing. 

Kevin has supported the implementation of systems and interoperability between registers at a national, federal and pan-European level. He has played a central role in a number of European registry initiatives including EBR, ECRF, EBRA, EBOCS, BDS, BRITE and e-CODEX.

Paul Tourret

Paul Tourret

Paul is an advisor to the UBO Service Board, he is a serial entrepreneur with multiple start-up/exit experience and has spent the past two decades building identity services within the Certification Authority (SSL/TLS) industry that resulted in the successful mass adoption of SSL website security by multi-millions of websites around the world.

Paul co-founded GeoTrust Europe; GeoTrust was sold to Verisign 2006, Symantec 2010 and later merged with Digicert in 2018. In 2016 Paul exited GlobalSign and launched Base 10 Ventures www.b10v.com. Paul is now focused on supporting other entrepreneurs with identity management and cybersecurity innovations.

Ben Cronin

Ben founded Global Business Register (GBR) in 2007. Within 3 years the GBR service was being used by 15 of the top 20 banks in the world. GBR was sold to Kyckr Australia in 2016 and is listed on the Sydney Stock Exchange.

Kyckr has developed API’s and cloud-based decision engines for Best in Class KYC due diligence and customer on-boarding. Since leaving Kyckr in January 2020 Ben has been focused on creating a reliable, accurate and current UBO declaration service.

Richard Wood

In 2002, Richard co-founded Enterprise Registry Solutions (ERS) - www.ersl.ie, a company specialising in the provision of solutions to operators of national registers such as company and beneficial owner registries. At ERS,

Richard was responsible for solution development along with other general management and business development activities. In January 2017, the company was bought by a quoted Canadian registry operator (www.isc.ca). Since leaving ERS in December 2019 Richard has been focussed on building our UBO Service solution.

Kevin Kerrigan

Kevin founded Tower 81 Associates in 2012.  In his role as Managing Director, Kevin has provided strategic, operational, and technical advisory services to registrars and regulators supporting a range of sectors including corporate and legal entities, intellectual property, pension, charity, security interests, aviation, and licensing.

Kevin has supported the implementation of systems and interoperability between registers at a national, federal, and pan-European level. He has played a central role in a number of European registry initiatives including EBR, ECRF, EBRA, EBOCS, BDS, BRITE and e-CODEX.

Paul Tourret

Paul is a serial entrepreneur with multiple start-up/exit experience and has spent the past two decades building identity services within the Certification Authority (SSL/TLS) industry that resulted in the successful mass adoption of SSL website security by multi-millions of websites around the world.

Paul co-founded GeoTrust Europe; GeoTrust was sold to Verisign 2006, Symantec 2010 and later merged with Digicert in 2018. In 2016 Paul exited GlobalSign and launched Base 10 Ventures www.b10v.com. Paul is now focused on supporting other entrepreneurs with identity management and cybersecurity innovations.

Ben Cronin

Ben Cronin

Ben founded Global Business Register (GBR) in 2007. Within 3 years the GBR service was being used by 15 of the top 20 banks in the world. GBR was sold to Kyckr Australia in 2016 and is listed on the Sydney Stock Exchange.

Kyckr has developed API’s and cloud-based decision engines for Best in Class KYC due diligence and customer on-boarding. Since leaving Kyckr in January 2020 Ben has been focused on creating a reliable, accurate and current UBO declaration service.

Richard Wood

Richard Wood

In 2002, Richard co-founded Enterprise Registry Solutions (ERS) - www.ersl.ie, a company specialising in the provision of solutions to operators of national registers such as company and beneficial owner registries.

At ERS, Richard was responsible for solution development along with other general management and business development activities. In January 2017, the company was bought by a quoted Canadian registry operator (www.isc.ca). Since leaving ERS in December 2019 Richard has been focussed on building our UBO Service solution.

Kevin Kerrigan

Kevin Kerrigan

Kevin founded Tower 81 Associates in 2012.  In his role as Managing Director, Kevin has provided strategic, operational and technical advisory services to registrars and regulators supporting a range of sectors including corporate and legal entities, intellectual property, pension, charity, security interests, aviation and licensing. 

Kevin has supported the implementation of systems and interoperability between registers at a national, federal and pan-European level. He has played a central role in a number of European registry initiatives including EBR, ECRF, EBRA, EBOCS, BDS, BRITE and e-CODEX.

Paul Tourret

Paul Tourret

Paul is a serial entrepreneur with multiple start-up/exit experience and has spent the past two decades building identity services within the Certification Authority (SSL/TLS) industry that resulted in the successful mass adoption of SSL website security by multi-millions of websites around the world.

Paul co-founded GeoTrust Europe; GeoTrust was sold to Verisign 2006, Symantec 2010 and later merged with Digicert in 2018. In 2016 Paul exited GlobalSign and launched Base 10 Ventures www.b10v.com. Paul is now focused on supporting other entrepreneurs with identity management and cybersecurity innovations.

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