We help banks and obligated parties comply with legal requirements in the KYC process from start to finish. With the platform we provide, obligated parties can maintain their KYC files completely independently.
Complete KYC process
via the KYCnow platform
Legally compliant
We support banks and other obligated parties in complying with legal requirements in the KYC process from start to finish.
Automatic
We are the only market player today that can offer and ensure complete automation of the process.
Flexible
KYCnow can be used as a complete solution or flexibly in modular form – depending on requirements.
KYC-relevant information
on a uniform standard
KYCnow is a unique solution with which we offer and ensure complete automation of the process. Our claim: To always map the KYC process in accordance with the latest status under the Money Laundering Act. The solutions can be adapted to the individual needs of the respective obligated parties. We understand the requirements of the individual industries and can tailor the platform to their needs. Our service: With the platform we provide, obligated parties can maintain their KYC files completely independently. We provide our fully comprehensive and automated KYC services via our own platform, as a connection to their existing systems via API, as a web frontend, or for people verification at the point of sale as an app.
The right module for every risk factor
Master data and beneficial owners
This module provides all necessary master data as well as the beneficial owners (Ultimate Beneficial Owner). Risk aspects such as industry or country are taken into account here. Also included: Detailed information on the legal representatives as well as the beneficial owners. Investigation terminations are also displayed in the master data.
SCHUFA full, compact and short reports at a glance
The depth of information required depends largely on the particular business transaction. Depending on your information needs, you can choose between a short, compact or full report. In this way, you always receive the right information content.
Automated transparency register process
Our connection to the Transparency Register saves you time with automatic reconciliation and submission, as well as the collective invoice function. Any changes to the transparency register or the law are taken into account in the platform.
Proof documents – documents of public faith
We provide and evaluate all documents of public faith such as the extract from the commercial register, the shareholders’ agreement as well as the lists of shareholders.
Compliance and name screening
All identified persons in a corporate relationship including all beneficial owners are screened on all international PEP, sanctions, black and watch lists. Hits are reported with a hit rate, the respective list and the office held. Within the scope of the KYC check, the persons checked are marked accordingly. If required, validation of the PEP status is carried out via our KYC service provider. Similar names are also shown in the results to minimize the risk of typing errors. The obligated party has the option to check the relevance of this information and either include it in the KYC file or ignore it.
Media screening – conspicuities in the network
Media screening includes a search for the company’s web presence, a comparison to the imprint, evaluation of all articles as well as news and a check of the beneficial owners on the net. This can be used for risk assessment as well as to avoid damage to the company’s reputation.
Interlocking graph – representation of the owner-company structure
This module is used to analyze and display both upward linkages, i.e. shareholdings according to the list of shareholders, and downward linkages (companies in which the requested company has shareholdings).
AFC Index
The AFC index provides information on which category the customer is currently in with regard to due diligence and will be in in the future. If the index is high, enhanced customer due diligence must be performed. If it is low, the general duties of care are sufficient. If it is in between, it is at the discretion of the credit institution how to deal with it. Each credit institution chooses the risk classification according to its own risk appetite.
In just a few steps to risk assessment, that's how it works:
Automatic filling of company data
We collect all the information about your business customers for you: whether it’s Schufa, the Federal Gazette or the Commercial Register – with KYCnow you can save yourself the time and effort involved. We also collect your customer’s documents. If required, they can also upload missing documents conveniently and securely online.
Online verification of the authorized representative
Via our associated application section, your customer can view and edit his company data. In addition, KYCnow offers online verification to prove the identity of the authorized representative. In the course of this, your customer is asked the appropriate KYC questions – without any effort on your part.
Aggregation of all KYC-relevant data
The heart of KYCnow is the data evaluation. After these have been subjected to various parameters, KYCnow provides you with a recommendation on the risk assessment of your customer and creates an individual AFC index.
Bank-compliant transmission of data
Receive all data, including source information and AFC index, bundled and processed via a secure interface. This allows you to evaluate your business customers without much effort and have the data and documents organized and quickly available at any time.
The right KYCnow module for every risk factor
Before accepting any new customer, a KYC risk rating is required. The answering of KYC questions by the (potential) customer serves to obtain the most detailed and valid information possible on potentially critical aspects, which enable an assessment of the KYC risk with regard to money laundering, terrorist financing and financial crime by the party obligated under the Money Laundering Act.
