KYC Assistant

Laven Partners’ KYC Assistant

Laven Partners’ KYC Assistant software formulates an on-boarding process in line with jurisdictional regulatory requirements. It improves internal efficiencies, client experience and compliance oversight over potential clients.

We have combined our knowledge of local jurisdictional rules, industry best practice guidelines and practical on-boarding experience to develop the KYC Assistant. The process now is therefore safer and faster, saving time and refining customer involvement.

The KYC Assistant is an on-boarding software accessible on the web. It acts as a portal designed to assist firms with the gathering of information prior to engaging with any new client.

Laven Partners offer client licensing of the KYC Assistant software. The software can be white-labeled to fit with any corporate identity.

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Different templates can be created as the software has the appropriate flexibility embedded within it. Laven Partners’ software is designed to combine subject matter expertise with technology. The software will support any modules for example for MiFID/MiFID II or US FINRA rules, as well as any client-specific KYC procedures.

How does the KYC Assistant software work?

The software is built so that each potential client user of the licensees has their own account and complete the on-boarding process saving time to the licensee whilst ensuring complete process control.

An example of how the process may be organised is shown on the following diagram:

Laven Partners' KYC Assistant software | Client on-boarding process

Licensees have complete live oversight on their clients’ progress from anywhere. In addition, licensees are notified via e-mail about any comments or questions that the client user may have posted.

Once a potential client has provided all the relevant information, the licensee can then publish the answers into a report. All reports and supplemental information are kept through the software’s document repository section.

Some of Laven Partners’ KYC Assistant key features:

  • Customisable scope to allow each licensor to gather all necessary information from basic contact details to the ownership structure to specific client requirements and needs
  • Question and answer style format with pre-set dropdown options to assist the user determined from legislation and or regulatory guidance
  • Documents upload allowing the client to provide relevant information directly within the software
  • Automatic report production as the user provides answers throughout the Q&A part of the software, a full report in prose is produced based on the answers provided. A preview of this report can be viewed at any time by the licensor. Once the final report has been published, this is maintained for recordkeeping and audit purposes, within the software’s document repository
  • Executive summary highlights all red flags and concerns raised within the report based on the answers provided by the client
  • Calendar dashboard providing an oversight of any upcoming, current and overdue reports
  • Outlook calendar any new reports can be assigned a completion date; here the client completing the report and the licensor is automatically sent an outlook calendar reminder
  • Easy navigation throughout the application with expandable sections and chapters.

Contact our specialists in order to learn more about how our KYC Assistant software can be tailored to meet your specific needs. Click here to request a demo.


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