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OwlTing Group Leverages Dow Jones Watchlist for OwlPay to Achieve Robust Global Regulatory ComplianceTAIPEI, June 29, 2022 /PRNewswire/ -- Global cross-border transactions are increasing in demand. According to Juniper Research, a UK-based market research company, the total amount of global B2B cross-border transactions will grow from 34 trillion USD in 2021 to 42 trillion USD by 2026. With alternative transactions gaining popularity, the financial regulations in various countries become stricter. In light of these trends, OwlTing Group, a global blockchain services company, announces a partnership with Dow Jones Risk & Compliance to leverage the Dow Jones Watchlist for Customer Due Diligence (CDD) measures of OwlPay, a one-stop integration payment service of OwlTing, and comply with the latest financial regulations across jurisdictions. In the second half of 2022, OwlTing Group expects to work with international financial institutions to provide global B2B cross-border payment services that are secure, real-time, and convenient applicable across multiple industries.
Cross-border B2B payments are currently complicated, expensive and time-consuming. Recognizing this problem, OwlTing Group announced OwlPay's global cross-border payment services in Q2 of 2022. Partnering with Napier, a UK-based anti-financial crime system provider listed in 2022 RegTech 100, OwlTing implements measures including Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) to meet the requirements of financial regulatory authorities in various countries. Additionally, OwlTing utilizes the Dow Jones Watchlist in the Know Your Customer (KYC) process to enhance their risk management abilities and ensure the security of cross-border transactions for their global business users. Dow Jones Risk & Compliance includes over 3.7 million global risk profiles, including those announced from the United Nations Sanction List. In addition to these files, official sanction lists from the governments in various countries such as US OFAC, Politically Exposed Persons (PEPs) and Relatives and Close Associates (RCAs), and individuals or organizations that may have had adverse or negative media coverage are accessible. The Watchlist is also adopted by many international financial institutions and significantly contributes to OwlPay's CDD to monitor and prevent financial crime risks. Jackal Ting, Chief Compliance Officer for OwlTing Group, explains, "OwlTing Group has been applyingnew technologies to innovate the existing industry applications and solve pain points. OwlPay is our solution in the FinTech industry. OwlPay not only allows users to use developer-friendly APIs to connect to business' internal management systems, provide payment process automation service, but also works with global financial institutions and digital payment enterprises to expand the cash flow network for a faster and cheaper global B2B cross-border payment service. Due to the increasing importance of AML and financial regulatory systems in various countries, OwlTing Group established the compliance department to take the responsibilities of transaction security and achieve regulatory compliance. We will continue to enhance our AML and CFT systems and measures, and expect to become a trusted partner of global enterprises." Una Peng, Partnership Director for OwlPay, states about OwlPay's partnerships to date, "We are currently connecting the system to several banks and overseas financial institutions. On top of that, we are partnering with companies in industries such as real estate, automotive, and produce. Since the release of our global cross-border payment services in May, it has been adopted by enterprises in Singapore. In addition, we have introduced OwlPay to the business units under OwlTing Group from our hospitality system to e-commerce services, and OwlPay has processed a total payment volume of over 12 million USD to date. OwlPay allows for the same-day settlement of funds, helps save 50% of labor cost, and greatly enhances the operation efficiency for OwlTing's business units." Looking at the global cross-border payment market, Darren Wang, Founder and CEO of OwlTing Group, shares, "OwlPay's B2B cross-border payment services for overseas businesses are released, and we will first target the US, Japan, Singapore, and countries in the EU. We will announce our partnership with international financial institutions soon. In the future, we will continue to work with our partners to provide faster and cheaper global B2B cross-border payment services with different blockchain settlement networks and USD stablecoin applications on condition that international regulatory compliance is ensured. We will build a seamless global cash flow network with which enterprises can make global payments with ease." For more information, please see below. Thank you! About OwlPay OwlPay provides a one-stop integration payment service for global enterprises. Through developer-friendly APIs, OwlPay integrates functions including reconciliation, mass transfers, auto payouts to innovate B2B cross-border transactions for real-time settlement and clearance. OwlPay charges less than 10 USD per transaction with same-day settlement, significantly enhancing the efficiency and transparency and making OwlPay a faster and cheaper payment solution tailored to the needs of global enterprises. OwlPay aims to create a new FinTech experience to help enterprises enhance operational efficiency and save labor cost. Website: https://owlpay.com/ About OwlTing Group Founded in 2010, OwlTing Group covers B2B, B2B2C, and B2C services. As a Taiwan-based company, OwlTing has branch offices in the US, Japan, Thailand, Malaysia, Hong Kong, and Singapore, and seeks to expand globally. In 2018, OwlTing announced an eight-figure USD investment from the Japanese financial giant SBI Group. In recent years, OwlTing has formed partnerships with government agencies, industry, and academia globally and applied the blockchain technology to the medical industry, automotive industry, defense industry, food industry, forestry, agriculture, etc. OwlTing aims to build blockchain services for various industries to solve pain points and improve industry ecosystems. Website: https://www.owlting.com/ About Dow Jones Risk & Compliance Dow Jones Risk & Compliance is a global provider of third-party risk management and regulatory compliance solutions. Working with clients across the globe, it delivers research tools and outsourced services for on-boarding, vetting and investigation to help companies comply with anti-money laundering, anti-bribery, corruption and economic sanctions regulation in mitigating third party risk. Website: https://www.dowjones.com/products/risk-compliance/ About Napier Napier is a new breed of financial crime compliance technology specialist. Our intelligent compliance platform is transforming compliance from legal obligation to competitive edge. All Napier products are built using cutting-edge technology, and the platform can be delivered via public cloud, private cloud or on premise. Website: https://www.napier.ai/ Contacts OwlTing Group - PR Office
SOURCE OwlTing Group 
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