/regulation & compliance

News and resources on regulation, compliance, legal and governance issues for banks and fintechs.

GVS chooses Know Your Customer for documentary evidence and customer onboarding

Source: Know Your Customer

Global smart technology client verification solution provider, Know Your Customer has finalised a deal with e-money institution, GVS Prepaid.

Know Your Customer provides a digital solution to global clients across a variety of regulated sectors to quickly and accurately identify and verify companies and individuals during client onboarding, ensuring companies can confidently conduct their KYC and anti-money laundering (AML) functions.

GVS Prepaid is an authorised E-money institution with the ability to passport cards throughout Europe; it is also a principle member of VISA Europe.

GVS Prepaid required a trusted tech partner to automate the onboarding of all its new clients, corporates and individuals alike. With Know Your Customer’s digital solutions, GVS Prepaid can now maximise its compliance team’s efficiency and capacity, reducing the onboarding times of corporate clients from three weeks to just one day, while ensuring regulatory compliance thanks to on-going AML monitoring and real time connections to company registries from around the world.

Know Your Customer CEO Claus Christensen commented:
“We are delighted to be working closely with GVS Prepaid. GVS Prepaid - a sister company of the household name One4all gift cards - has significant growth plans and we look forward to supporting their growth by providing our own expertise and technology. By retrieving documents from official company registries and clearly identifying ultimate Beneficial Owners, our platform ensures faster anti-money laundering checks with secure corporate verification, thus providing GVS Prepaid with regulatory certainty and documentary evidence throughout their entire onboarding process”.

GVS Prepaid Director Declan Byrne said of the new collaboration:
“By partnering with Know Your Customer we can achieve twin objectives of regulatory compliance and business growth. This partnership improves the efficiency of our customer onboarding process while ensuring regulatory compliance when on-boarding customers with full documentary evidence from official registries and not just ID verification and address matching.”

Comments: (0)