Ultimate beneficial owner feature released

Spark platform launches a new featured - the Ultimate Beneficial Owner - designed to quickly and efficiently qualify new business for lending opportunities.

𝐒𝐩𝐚𝐫𝐤 𝐔𝐁𝐎 (Ultimate Beneficial Owner) utilises automation to trace a business ownership route all the way up to the ultimate individual or overseas company that owns that business, saving hours previously spent recreating the route with all parties tied to a business.

The latest feature brings the notion of ultimate beneficial owners into our reports, instantly scaling the ladder of corporate ownership to quickly present out users with the people behind a business, the UBOs.

It delivers further efficiencies to users of our platform, expediting the research process on new lending opportunities while enhancing due diligence.

Spark UBOs provides:

• Beneficial Owners Nationality, Country of Residence, and Date of Birth
• Ownership Route with all companies tied to a business
• Nature of the PSCs (Person with Significant Control)

‍

Key efficiency benefits:

• Higher probability of conversion
• More leads qualified per day with less resources
• Pre-programmed checks to reduce error possibility
• Time saved through improved qualification
• Key information highlighted for human review
• Automated data gathering from multiple sources