Always up-to-date customer data – including quality indicators
Regular Review for individuals: Your shortcut to fulfilling regulatory obligations. Prepare now for the shortened review cycles and expanded data requirements of the AMLR.
Find the perfect KYC solution in just 30 minutes.
Reliable fulfillment of duties
Reduced customer contact
Highest data quality
How up-to-date is your customer data?
Not every business relationship requires constant contact with your customers. And digitalization is steadily reducing the available contact points.
The problem: The less contact you have with your customers, the higher the likelihood that your data is outdated. This is because customers rarely comply with the obligation to update their data, which is often stipulated in the terms and conditions.
With AMLR, the audit cycles for customer data will be further shortened and the required data scope expanded — banks and insurance companies are under particular pressure.
However, continuously monitoring the business relationship is costly and complex – and therefore not profitable for your company. This creates a dilemma between legally correct and economically sensible behavior.
General due diligence obligation to update in accordance with the Money Laundering Act (GwG).
Obligated parties under the Money Laundering Act They must check the accuracy of customer data at regular intervals or when irregularities are detected and update it if necessary. This is stipulated in Section 10 of the Money Laundering Act (GwG).
The EU AMLR further tightens these obligations: shorter update periods and an expanded data set for natural persons.
Continuous monitoring of the business relationship includes, in addition to transactions, all information and documents you receive from your customers.
Failure to comply will result in heavy penalties in the form of fines.
Up-to-date data on natural persons at the touch of a button in your system
Our interface connects you to up-to-date data on over 68,9 million individuals. This allows you to receive new addresses, phone numbers, and name changes, including quality ratings, at the touch of a button.
The data has been checked by SCHUFA and confirmed by a regulated source. In addition to the content information, we also provide you with the last update date of the customer data.
Our interface makes it incredibly easy to comply with your due diligence obligations under the Money Laundering Act (GwG) and also saves valuable resources.
Data you can truly rely on
Compared to other update offers, with the Regular Review you benefit from SCHUFA's principle of reciprocity.
The customer data we provide comes from a regulated source and includes a timestamp of the last confirmation – our exclusive quality feature. This ensures you can reliably keep your customer database up to date.
Ready for AMLR: mastering shortened inspection cycles and expanded data requirements
The new EU AML Regulation (AMLR) increases the requirements for updating customer data. Audit cycles are shortened, the volume of data grows, and monitoring becomes more complex. High-risk customers must be audited annually, all others at least every five years.
KYCnow's Regular Review for individuals provides you with up-to-date, verified data from a regulated source – quickly, with documentation, and in compliance with AMLR. Keep your customer database reliably up-to-date and streamline your processes.
Deep Dive: People and Data
With our Regular Review for natural persons, you receive a comprehensive data set – not only on account holders, but on all persons involved in the business relationship.
Regular Review of natural persons: Their advantages
Mass data update
Regular Review provides a powerful solution for reliably updating your entire customer database. Batch import allows for quick and efficient updates of even large datasets.
Reducing customer contact
Your customers' time is valuable – thanks to the Regular Review, you no longer need to bother your customers about checking data accuracy. Our tool keeps the data automatically up to date, and you can contact your customers only when there's something truly important to discuss.
Highest topicality
Thanks to the SCHUFA database, we have access to data on 68,9 million individuals in Germany. You always receive the most up-to-date data, including a precise timestamp of the last check.
Best data quality
Compared to other update services, the Regular Review benefits from SCHUFA's principle of reciprocity. This means you receive up-to-date address data directly from regulated sources such as banks.
Fast delivery
Our automated interfaces allow us to keep your data up-to-date at the touch of a button. The data is transferred directly to your system, so you can use and process it without any waiting time.
Sales events
Whether it's a new address, a new surname, or the acquisition of an academic degree: this information offers you tangible opportunities to engage in conversation with your customers.
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