According to the Money Laundering Act, all persons and organizations involved in financial transactions must always be clearly identified and legitimized. In addition to the direct business partners, such as a first or second applicant and guarantor, this also applies to all other partners associated with the transaction (sellers, beneficial owners, authorized signatories, control holders, etc.). In addition, companies also have their own right to avoid risky transactions in terms of their corporate governance by having precise knowledge of the persons involved.
To this end, our solution offers reliable external data sources with up-to-date profiles of more than 650,000 individuals and organizations and dedicated sanctions, PEP and embargo lists. You can also integrate your own lists with any partners. This allows high-risk business partners to be identified quickly and reliably.
Extraction of the corporate body structure
Our solution identifies all function holders of the contractual partner fully automatically on the basis of up-to-date sources and presents them clearly.
Checking PEP, sanctions and embargo lists
The system supports flexible, event-related individual checks or recurring automated checks of the entire or partial inventory of contractual partners using certified algorithms. The obligated party can freely configure which lists are to be used as well as the search strategy and comparison parameters used.
KYC module for processing anomalies
The system generates audit notifications in the event of anomalies in relation to the solution's automated compliance check. It offers convenient processing of the hit list, including verification, uploading documents and automatically sending messages.
Checking risk factors
In addition to checking the regulatory requirements, further risk factors such as sector or year of foundation can be checked.
Legitimation
If legitimation of specific business partners is required for the final check, this can be carried out easily and intuitively via the solution using a variety of supported procedures (Video-Ident, Bank-Ident, Auto-Ident, ID-Ident).
Documentation of the KYC file
All information is clearly prepared in a KYC file, which can also be exported. In this way, you fulfill the record-keeping obligation as defined by the GWG.
Search strategy, comparison parameters and hit probability can be administered online via a common interface.
The solution enables both event-oriented individual case checks in the event of specific suspicious circumstances and regular identity checks of the entire or partial inventory in purchasing, sales, accounting or human resources.
Precise compliance with the legally required identity checks and legally compliant documentation provide greater legal certainty and certainty of action.
The streamlining and digitalization of processes lead to more efficient workflows.
The service-oriented architecture and standardized interfaces facilitate integration into existing application landscapes.