We prepare KYC simply so that Money laundering It will be difficult.

First impressions: exciting technologies, potential for collaboration? Shortly afterwards, representatives from SCHUFA visit Fino in Kassel. They showcase digital solutions, including smart onboarding processes for private customers.

Then came the brilliant idea: Couldn't company onboarding be digitized just as efficiently? This question wouldn't let go of either team – a conversation became the beginning of a completely new understanding of KYC.
Initial steps were quickly taken. Solarisbank was immediately enthusiastic and recognized the potential of a digital KYC solution for corporate clients.

The first real test: In October 2018, the prototype – developed in just three months – was presented at SCHUFA's industry event. The response: overwhelmingly positive. Banks, FinTechs, and partners were enthusiastic.
The moment had come: The idea was ready for the market – KYCnow was born.

In March, the plans take concrete form: a joint entity of SCHUFA and Fino is discussed. A small, dedicated team from both worlds sets the vision in motion – Tobias Eiß, Tobias Weber, Hendrik Lenz, and three Fino developers. The first milestone follows quickly. On June 3, 2019, DZ Bank becomes the first major bank to sign on. Just one month prior, the first international meeting takes place in Amsterdam. We also attend the money laundering conference in Berlin for the first time – and gain a better understanding of the industry.
In autumn 2019, KYCnow opened the door to the savings banks. The first exchange took place in October – with the goal of integrating KYC directly into the core banking system. A crucial step. In November, the first joint offsite meeting was held. Two weeks later, the next major deal followed: Solaris signed the contract. Towards the end of the year, we took stock: The first billing cycles were underway – Solaris, DZ Bank, Concardis, and Jitpay were on board. The solution was up and running, and the frontend was in productive use. Simultaneously, discussions began with Atruvia and Wirecard.

KYCnow has had a strong start to the year – and has been awarded the German Excellence Prize. A clear sign: The industry sees what we are doing.

Then came Corona – and we reacted quickly. Within just one week, we launched the subsidized loan information service. 900 banks implemented the solution – a real feat that demonstrates what's possible when technology meets urgency.

The next milestone will follow in the summer: SCHUFA and Fino will establish a joint venture with ClariLab – the cooperation will now become a real company.
Together with the German banking industry, we are working with the country's largest banks on the further development of the platform – Commerzbank, Deutsche Bank, Helaba and many others are involved.

And KYCnow is also growing rapidly technically. Transparency register data and international sources are being integrated. The platform is becoming more comprehensive – and more powerful than ever.

What began as an idea has now become indispensable in the industry: Over 400 companies rely on KYCnow – including three of Germany's largest banks.

Our solution is integrated into the core banking systems of the Sparkassen-Finanzgruppe (Savings Banks Finance Group) as well as those of the Volksbanken and Raiffeisenbanken (cooperative banks).

With over 1,5 million uses per year, KYCnow has long since become the standard – for onboarding, monitoring,

Transparency register checks and much more.
And we're not stopping there: Together with leading financial institutions, we are continuously developing the platform. For a KYC process that is not only regulatory compliant, but also efficient, digital, and future-proof.