Creditro takes over KYC from Penneo

As part of Visma’s ambition to build world-class digital solutions, a strategic decision has been made to sharpen the focus of its portfolio companies, Penneo and Creditro. Going forward, all KYC activities will be transferred to Creditro, allowing Penneo to concentrate 100% on delivering the leading B2B signing experience in the Nordics and Belgium.

This decision reflects Visma’s vision to build and scale leading software companies by enabling them to focus strategically and thereby strengthen their market positions. By clearly defining the strategic focus areas for both Penneo and Creditro, Visma is providing both companies with a stronger foundation to innovate faster, respond more effectively to customer needs, and deliver even greater value to their users.

“We are excited to bring the deep professional knowledge and experience from Penneo’s KYC journey into Creditro. By combining the strengths of both teams and technologies, we are laying the foundation for a next-generation KYC solution that meets the demands of a rapidly evolving market,” says Asmita Velji Tejani, Managing Director of Creditro, and adds:

“We look forward to working closely with all users and the Penneo team to ensure an enhanced KYC solution. Our focus on great customer experiences will continue throughout the upcoming transition period, as we help everyone successfully meet their AML compliance needs.”

What does this mean for customers?

The transition will not happen overnight. Penneo and Creditro will work closely with their customers to ensure a smooth and transparent process. Existing Penneo KYC customers can expect a meticulous and transparent transition period and, together with Creditro’s current customer base, will benefit from a strengthened KYC solution.

“Our goal is to make this a win-win for customers, employees, and the businesses alike. We are investing in both product visions to ensure that Penneo and Creditro remain leaders within their respective areas,” says Lars-Erik Jacobsen, Chairman of the Board for both Penneo and Creditro.

This focused setup allows both companies to do what they do best: develop the market’s best solutions, that are secure, scalable, and designed for the future.