KYC for B2B
We want to help parties on both sides in a due diligence process. Reduce time for collection of data and the time you spend on the analysis of data. We also want to automate as much as possible but secure that the final decision is made by you.
It's sometimes tricky to see the differences between solutions for KYC. More often they are intended for analysis of risks in relation to end-clients (retail or corporate). Our solution can be used on institutional clients but the main purpose is risk assessment of product suppliers, distributors and outsourcing partners who are used for distribution of financial instruments.
We focus on the types of companies who are part of this distribution chain. Parties who needs to be monitored on a regular basis according to laws and international rules like EU directives. In order to secure that financial instruments are sold to the right types of clients and that they have solid routines to prevent activities like fraud, money laundering and financing of terrorism.
For a long time, we have been sending a large amount of due diligence documents to each other - via email and to one counterparty at a time. We decided to change this and create a possibility to share the same documents with more than one counterparty. And to offer a tool, which enables a better risk assessment of third parties.