Data Verification for Banks and Financial Service Providers
We support you in complying with the KYC guidelines
Banks and financial service providers are obliged to carry out precise identification of their customers. This process is also called KYC (Know Your Customer). The aim of these KYC guidelines is to prevent banks from being intentionally or unintentionally misused by criminal elements for money laundering activities. The associated procedures enable banks to better understand both their customers and their financial transactions and thus to manage the associated risks prudently.
In order to comply with the KYC Directive “Customer Identification Procedures” of natural persons, the name, point of period, city, PeP status (politically exposed persons) and sanctions list status, among other things, must be verified. This also includes beneficial owners, shareholders and officials. Banks and financial service providers, as well as their software providers, require automated solutions for the reconciliation and verification of this master data. We at econob support you with our data toolset!
We are happy to support you according to – better data, insights, business
Do you have questions about compliance with the KYC guidelines or about our data verification for banks and financial service providers? We appreciate your feedback!
Simply contact us via our contact form or call our experts directly at +43 650 4255624.