With our automated transparency register service, these obligations can be fulfilled within the shortest possible time with reliable results and without the need for additional capacity.
This is the KYCnow
Transparency Register Service
Obtain statement, perform reconciliation, report discrepancy; all automatically
Complex legal inconsistency fiction is calculated
As a sub-module of the KYCnow platform for integration into existing processes
As an API module or within the KYCnow complete solution
Since January 1, 2020, financial institutions and other obligated parties have been required to check each customer for an extract from the transparency register. The extract shows the beneficial owners of the respective companies. Obligated parties must match this excerpt with the info they have. If there are any discrepancies, a report must be made to the transparency register. One problem: The transparency register only exists as a web interface, there is no provision of its own API. This often results in increased manual effort on the part of obligated parties.
With our automated transparency register service, these obligations can be fulfilled within the shortest possible time, with reliable results and without the need for additional capacity.
Our scope of services
Customer data is accessed via the KYCnow platform.
The comparison between available information and transparency register data takes place in a graphically comprehensible manner. After each comparison, a recommendation is made based on the possible discrepancies.
If desired, we can take over the reporting of discrepancies to the transparency register.
Thanks to our own interface to the Transparency Register, we can provide the service fully automatically and as a sub-module of the KYCnow platform or as an API for connection to existing processes in order to adapt to your individual needs. The API is also included in the web application. A separate invoice is also generated for each statement.
Do you need more information?
We can help you with your transparency register query