Do you really know your customer?
At Instantor, we believe that it is one of the important factors of building a relationship with your customer. The process helps you to understand their situation from their financial data and know that the services you provide to them are suitably aligned. This makes sense for both your company and your customer.
Know Your Customer, or KYC is an important part of any business. In order to provide financial services online, companies need to have methods for remote identification in order to be aligned with KYC standards. Making the KYC process as simple as possible just makes sense.
KYC Across Borders
Our solutions are easy to integrate into your KYC processes. We can offer integration to major banks in more than 25 countries throughout Europe, LA and Asia. Instantor provides access to multiple internet banking login methods. These are proven to be valid remote identification methods in all the countries where Instantor operates.
Identifying customers by traditional means you would have to obtain banking account information. This would involve the customer being physically present in their bank, signing papers. This process is time-consuming and offers no extra security.
Validate KYC Data with confidence
The customer identifies themself by logging into their internet bank using the Instantor service and Instantor sends the report containing KYC data. This allows your company, as Instantor’s client, to validate KYC data against personal and bank data provided in the loan application form. We also validate against relevant anti-money laundering (AML) lists and perform anti-corruption due diligence.
All this means that you can be confident when you verify your customer, making the whole process more secure, while at the same time complying to the necessary KYC and AML regulations. This allows you to accept more at less risk.
An example of KYC report(cut):
name: “Swedbank AB”
username: “John Dow”,
address: “PRIVATE: Santa Helena Route 342, 98746 Fresno, United Kingdom”,
phone: “PRIVATE: 123 456-789”,
email: “PRIVATE: email@example.com”