Client onboarding at the touch of a button – thanks to the KYCnow integration in KanzleiDrive
In the digital age, tax firms are constantly seeking innovative solutions to make their daily work more efficient and secure. The management of tax matters and the interaction between firms and their clients have changed dramatically with the advent of modern technologies.
A platform dedicated to this goal, to further simplify everyday office life is Law FirmDriveWe have Jakob Stuby of Law FirmDrive asked us to tell you more about this exciting innovation and its KYC integration to tell.
Jakob Stuby, Co-Founder & CEO of KanzleiDrive
What exactly is KanzleiDrive?
KanzleiDrive is a client portal for exchanging data and documents between tax consulting firms and their clients. Our goal is to provide clients with a simple, intuitive application while the firms continue working within their existing and familiar systems.
This enables seamless interaction between tax advisors and clients.
KYC for tax advisors
What role does KYC integration play within the platform?
KYC integration plays a crucial role in onboarding new clients and maintaining master data. It enables law firms to automatically retrieve and keep up-to-date a large portion of the required master data.
Furthermore, it facilitates compliance with money laundering regulations. Instead of manually gathering and entering all relevant information, client onboarding can now be done at the touch of a button.
To what extent does the integration help to define signing permissions more clearly and how does it contribute to improving security standards for digital signatures?
Currently, digital signature providers can only determine if and which individuals have signed a document. KYC integration makes it possible not only to know that two people have signed a document, but also to verify that the signatory is authorized to do so. This eliminates the need for manual verification and ensures the legal validity of the signature.
Automated client onboarding
How does the provision of current master data through KYC integration in KanzleiDrive work?
Thanks to the KYC integration in KanzleiDrive, client onboarding for tax firms is significantly simplified. When a potential collaboration is being considered, the firm enters its company name, and all necessary master data is automatically retrieved.
The law firm can specify exactly what information it needs, be it master data, details about the beneficial owner or name checks against PEP- or Sanctions lists.
The automatic integration of this data significantly reduces administrative effort and eliminates time-consuming manual data entry. It also ensures greater data accuracy.
Furthermore, the retrieved data can be seamlessly and automatically integrated into leading law firm systems, such as DATEV. This not only simplifies client onboarding but also increases efficiency in the firm's workflow.
Overall, KYC integration enables tax firms to focus more on their core tasks and the needs of their clients.
Highest security measures
What types of data and information can be fed into KanzleiDrive via the KYC integration? Are there any data protection concerns?
KanzleiDrive extracts data from public commercial registers and supplements it with information on anti-money laundering compliance and the beneficial owners of the company. Since this is done in accordance with anti-money laundering laws and all data is encrypted, there are no data protection concerns.
What happens if a match is found?
If a match is found, we contact a money laundering officer who manually reviews the case. We also offer contacts to support law firms with KYC checks and ensure compliance with money laundering laws.
KanzleiDrive revolutionizes the way tax firms interact with their clients and exchange data and documents. The integration of KYC procedures into this platform promises not only greater efficiency but also higher security standards in digital collaboration.
Further developments planned
What other functions or enhancements can KanzleiDrive users expect in the future in connection with the KYC integration?
We are planning in two phases. In the first phase, we will optimize client onboarding to collect data more quickly. In the second phase, we will also implement the feature for existing clients and integrate KYC functionality into our digital signature workflow to further enhance the evidentiary value of digital signatures.
Are there any additional resources or training courses you offer users to understand and utilize the full range of KYC integration capabilities?
We offer comprehensive training during the onboarding process and recommend taking a look at our Help Center or to visit our website to make sure you don't miss any webinars on the topic of "KYC integration".
Roczniewski