Banks are obliged to scrutinise their customers as part of the Know Your Customer (KYC) process. This is intended to prevent money laundering, white-collar crime and the financing of terrorism. However, requirements and procedures differ from bank to bank. Up to now, each bank has had to have its own audit, and the largely manual research processes often take several weeks. This is a real competitive disadvantage for you – because your company is the victim of this process.
With cinfoni you can exchange KYC-relevant company data and documents with your banks in a standardized and automated process. You only have one contact person at cinfoni to accompany you through the entire process. Once created, the validated and verified data record including the required documents can be forwarded to the banks of your choice as often as you like – even across national borders. The entire process is coordinated with the regulators and meets the highest security requirements. Whether you store your data in your own network or in an encapsulated cloud solution operated by Arvato in Germany, you retain full control.
So easy it is
Advantages of cinfoni
- BFS finance GmbH is part of the Bertelsmann Group and as a supervised financial services provider very familiar with the implementation of regulatory requirements.
- Less manual effort, no costs: all you need to do is upload your documents once for all your banks on the cinfoni platform – likewise, changes and updates are handled solely through cinfoni.
- Unique business model thanks to our network and platform approach.
Register now for cinfoni
Make the KYC-process easy. Register with cinfoni and create your data set once for all banks – whether you are currently in a business relationship or plan to enter into one in the future.
Do you need support?
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