Data-Driven Company Registry : Guidance Note

Data-Driven Company Registry : Guidance Note

The accelerated expansion of digital economy ecosystems mandates company registries to digitalize and connect to these ecosystems responding to new business dynamics. Achieving data-driven company registries requires considerable effort to improve...

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Bibliographic Details
Main Author: World Bank
Format: Working Paper
Language:English
en_US
Published: Washington, DC 2022
Subjects:
COMPANY REGISTRIES
DIGITALIZATION
DIGITAL ECONOMY ECOSYSTEMS
DATA MANAGEMENT
AUTOMATION
FRAUD PREVENTION MECHANISMS
CROSS-BORDER DIGITAL IDENTITY
INTEROPERABILITY
Online Access:http://documents.worldbank.org/curated/en/099435008302231899/P17553401702c10490be6e02112bae75050
http://hdl.handle.net/10986/37948
id okr-10986-37948
recordtype oai_dc
spelling okr-10986-379482022-09-01T15:31:14Z Data-Driven Company Registry : Guidance Note World Bank COMPANY REGISTRIES DIGITALIZATION DIGITAL ECONOMY ECOSYSTEMS DATA MANAGEMENT AUTOMATION FRAUD PREVENTION MECHANISMS CROSS-BORDER DIGITAL IDENTITY INTEROPERABILITY The accelerated expansion of digital economy ecosystems mandates company registries to digitalize and connect to these ecosystems responding to new business dynamics. Achieving data-driven company registries requires considerable effort to improve data management. Some jurisdictions achieved significant automation of company registration procedures through digitalization. Real-time company registration requires fraud prevention mechanisms. Significant levels of simplification of company registration and removal of in-person interactions require improvement in fraud prevention and detection. The digitalization of a company registry requires a seamless cross-border digital identity. Jurisdictions are looking to simplify the onboarding for digital identity and the requirements for digital signature in the company registration procedures. Making company registration accessible for domestic and foreign founders and investors has become a mandatory improvement. Recent solutions involve the use of blockchain for digital business identity and online onboarding using biometrics and AI/machine learning for identity validation. Furthermore, some initiatives at the regional level aim to interconnect national business registers belonging to a region, allowing business intelligence through cross-border comparability of data and improving access to information on companies in a cross-border context. 2022-08-31T20:14:11Z 2022-08-31T20:14:11Z 2022 Working Paper http://documents.worldbank.org/curated/en/099435008302231899/P17553401702c10490be6e02112bae75050 http://hdl.handle.net/10986/37948 English en_US Equitable Growth, Finance and Institutions Insight Equitable Growth, Finance and Institutions Insight - Trade, Investment and Competitiveness CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC Working Papers Working Papers :: Other Papers World
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
en_US
topic COMPANY REGISTRIES
DIGITALIZATION
DIGITAL ECONOMY ECOSYSTEMS
DATA MANAGEMENT
AUTOMATION
FRAUD PREVENTION MECHANISMS
CROSS-BORDER DIGITAL IDENTITY
INTEROPERABILITY
spellingShingle COMPANY REGISTRIES
DIGITALIZATION
DIGITAL ECONOMY ECOSYSTEMS
DATA MANAGEMENT
AUTOMATION
FRAUD PREVENTION MECHANISMS
CROSS-BORDER DIGITAL IDENTITY
INTEROPERABILITY
World Bank
Data-Driven Company Registry : Guidance Note
geographic_facet World
relation Equitable Growth, Finance and Institutions Insight
description The accelerated expansion of digital economy ecosystems mandates company registries to digitalize and connect to these ecosystems responding to new business dynamics. Achieving data-driven company registries requires considerable effort to improve data management. Some jurisdictions achieved significant automation of company registration procedures through digitalization. Real-time company registration requires fraud prevention mechanisms. Significant levels of simplification of company registration and removal of in-person interactions require improvement in fraud prevention and detection. The digitalization of a company registry requires a seamless cross-border digital identity. Jurisdictions are looking to simplify the onboarding for digital identity and the requirements for digital signature in the company registration procedures. Making company registration accessible for domestic and foreign founders and investors has become a mandatory improvement. Recent solutions involve the use of blockchain for digital business identity and online onboarding using biometrics and AI/machine learning for identity validation. Furthermore, some initiatives at the regional level aim to interconnect national business registers belonging to a region, allowing business intelligence through cross-border comparability of data and improving access to information on companies in a cross-border context.
format Working Paper
author World Bank
author_facet World Bank
author_sort World Bank
title Data-Driven Company Registry : Guidance Note
title_short Data-Driven Company Registry : Guidance Note
title_full Data-Driven Company Registry : Guidance Note
title_fullStr Data-Driven Company Registry : Guidance Note
title_full_unstemmed Data-Driven Company Registry : Guidance Note
title_sort data-driven company registry : guidance note
publisher Washington, DC
publishDate 2022
url http://documents.worldbank.org/curated/en/099435008302231899/P17553401702c10490be6e02112bae75050
http://hdl.handle.net/10986/37948
_version_ 1764488181007253504

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