Eduard von Kymmel (id Linked®): Creating values with a better corporate governance
2 years ago, Eduard von Kymmel founded id Linked®, a company striving to build better corporate governance through the contribution of independent directors. Following the success of the first service – id Ship – he has launched id Market to further support board members.
Why did you start id Market?
Eduard von Kymmel: Our first product, id Ship, a digital match-making platform connecting independent directors with companies from the financial sector attracted more than 225 independent directors and 35 market leading companies like Northern Trust, Arendt, PwC, NortonRose, EFA, RSM, Fuchs, Prime Capital AIFM, etc. We are particularly proud to be recommended by ILA and LPEA. This motivated us to launch id Market, which aims to strengthen the support available to independent directors and companies in the fund industry. When I started as an independent director, I had to set-up everything from scratch: office location, IT infrastructure, self-marketing, homepage, insurances, accounting etc. I would have liked help and special offers for independent directors. However, apart from existing director offices and the strong support of ILA, there was nothing available. After creating id Ship, I was often asked by fund initiators for recommendations for fund service providers, auditors, lawyers, etc. That was the point when the idea for id Market was born.
“id Market empowers independent directors with the services they need to keep up with ever changing requirements”
How does it work?
Eduard von Kymmel: id Market is divided into 2 sections: first, we have the marketplace, where independent directors can benefit from interesting offers such as office solutions, trainings, digital director office tools, HR, marketing, insurance and accounting. Registered id Ship companies can use this marketplace to advertise special offers in the mentioned areas at no additional cost. The second section is our Open Service e-Directory: a search platform open to all visitors on our website, where fund initiators looking for service providers can easily find fund administrators, custodians, corporate secretary, domiciliation, audit, law firms, recruitment etc.
Why should Fund Service Providers register with the Open Service e-Directory?
Eduard von Kymmel: id Ship registered companies can place their company and services in the directory to gain more reach and visibility; the search on this directory is open and free-of-charge to all visitors of the website. Above that, customers can rate and review the registered companies. Experience shows that customers are interested in reviews and use them in their decision-making process.
What is your outlook for the future?
Eduard von Kymmel: Although a lot has changed so far, we see that there is still quite some work to do in terms of the selection process and composition of board of directors. However, we are currently in a transformation which needs time and a lot of patience. Regulatory guidelines are changing and the monitoring and requirements by the financial authorities are becoming increasingly stringent, which is good of course. id Ship and id Market are here to facilitate this transition. On the one hand, id Ship provides the platform to find the desired profiles. On the other hand, id Market empowers independent directors with the services they need to keep up with ever changing requirements. We will keep fighting on many fronts to promote a better corporate governance. We are already working on new services. Next year, we will offer corporate secretaries and directors id Cockpit: an additional innovative, and secure digital solution for a better corporate governance.