Online account opening with integrated KYC process
A digital process: From application to account opening
When it comes to opening a new checking account, every minute counts. Especially in the corporate and business banking sector, time is money.
It's therefore not surprising that many business customers want to use as many digital processes as possible. Simply opening a checking account from the office – without having to go to the bank. The efficiency advantages are obvious.
What is clear from the customer's perspective poses a major challenge for banks. After all, they must also operate in full compliance with the law in digital processes. For corporate clients, this often means a comprehensive KYC check .
Get your business current account with ECON Application and KYCnow
This has been possible since June 2023 – through the cooperation of ECON Application GmbH (ECON) and KYCnow.
ECON offers its ECON Application Suite, software that banks and Insurance You can easily create digital sales processes.
Create a digital application process in no time.
With just a few clicks, your bank can create its own digital application process. And all without writing a single line of code.
Using drag and drop, all types of routes can be created with ease and used immediately without a release. Extensive design or documentation is unnecessary. Every route is stored in a revision-proof manner, and the documentation is generated at the touch of a button.
This innovative solution from ECON promises an 18x faster time-to-market and enables banks to offer their customers a seamless digital onboarding experience.
The KYC process digitized – with KYCnow
Banks are legally obligated to check their customers for money laundering risks. This means that for new business customers, various master data must be recorded, documents such as commercial register extracts must be obtained, and beneficial owners must be identified.
This comprehensive KYC check can be carried out easily and automatically with KYCnow. A complete KYC file is generated in just 60 seconds, allowing you to decide whether you are allowed to open the account.
Open a business account digitally and legally securely
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By integrating KYCnow into the ECON Application Suite, banks can now offer their new business customers digital end-to-end processes from application to account opening.
All application data, KYC information, and documents are consolidated in the back office – ECON's workflow system. This enables a Money Laundering Act-compliant KYC check and ensures a simple and legally compliant onboarding process for new corporate clients.
You can learn more about the new application process for business accounts in the following video.
Do you have questions about KYCnow or ECON's new process? Then schedule your free consultation appointment now.
Roczniewski