General Sequence

General Sequence

Creating a digital KYC-record for a business relationship with natural persons consists of the following steps:

  1. Create a record
  2. Obtaining all necessary data and documents
  3. Risk check
  4. Fulfilling increased due diligence in case of high risk
  5. Audit-proof filing of the record

For each step KYCnow provides functionalities. To begin with a new KYC-record must be created. This is possible in the page list on the left. All created records can be found in “New records”. Once the record is closed, it is moved to “Closed records”.

To view a record under "New records" or "Closed records", simply click on the record name. It is divided into several sections which you can navigate using the tabs placed in the upper hand side. The order of the tabs starts with an overview and then follows the logical steps of the check from left to right. First all Data and Documents must be gathered in the corresponding folder. Following this the risk assessment can be found under “Check Due Diligence”. In case of high risk the corresponding tab “Increased Due Diligence” is to be filled in. Once all steps have been carried out, the record can be closed.

To guarantee maximal flexibility KYCnow does not require a strict succession of the steps. It is possible to add or change Data and determine the risk again. The general succession is merely a recommendation.


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