Invite customers electronically, quickly and securely

We strive to make customer acquisition easier for you and your customers

invite new customers with an e-mail or QRCode

& Go

Transform customer onboarding with an email or QR code so customers can scan with their phone to complete KYC.
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Connecting with customers

The right technology simplifies customer onboarding, strengthens compliance teams & has a positive effect on profitability and risk

Standard Customer Due Diligence

What do I need to do for Standard Customer Due Diligence (CDD)?

Each country's Anti-Money Laundering Act is unique and will vary across geography. Additionally, each sector governed by each act may have additional requirements prescribed by regulations.

Typically, When undertaking standard Customer Due Diligence (CDD), you must obtain:
(a) the person’s full name; and
(b) the person’s date of birth; and
(c) if the person is not the customer, the person’s relationship to the customer; and
(d) the person’s address or registered office; and
(e) the person’s company identifier or registration number; and
(f) any information prescribed by regulations.

This should be complete for your customer, any beneficial owner of the entity and any person authorised to act on behalf of the customer. You must then take reasonable steps to verify this information to be satisfied it is correct.

You must also obtain information on the nature and purpose of the business relationship between you and the customer, as well as sufficient information to determine whether the customer should be subject to enhanced customer due diligence. This is an important part of Customer Due Diligence and assists you to assess the level of risk associated with a customer.

Avid AML obtains Standard Due Diligence information including customer nature and purpose making onboarding easier for you and your customer.

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