kycvault.eu
One file for all institutions that ask about origin and structure.
Banks, notaries, accountants and insurers need to know who they are dealing with. That leads to the same questions being asked by every party all over again: who are the ultimate beneficial owners, how is the structure organized, and where does the capital come from. Every institution asks it in its own format, and until the answer is complete, everything stands still.
kycvault will be the vault where that is stored once, with the supporting documents, ready to be delivered in each institution's format.
What it does
Record structure and beneficial owners
Researched and substantiated once, with the documents included.
The right format for each institution
The same facts, in the form that this party requires.
Keep track of what changes
A change in the structure affects every open file; that should be reported once.
For whom
- Entrepreneurs with a holding structure
- Companies with files running at multiple institutions
- Advisers who compile this for clients
Where it is found
Search behavior emerges from delays: "kyc bank takes long", "provide ubo", "demonstrate origin of funds".
Frequently asked questions
When will this be available?
The house is in preparation; nothing is running yet. The concept is in place.
Why does every institution ask for it again?
Because every institution is itself responsible for its own file and cannot rely on that of another. What you can reuse is your own substantiation.
How this platform is built
Like every platform of Theos Group: on one shared foundation, in own management, with its own automatic administrator — here Walter — who runs the daily rounds, reports disruptions and writes the daily report. What we learn from one system, is in all the others the week after.