- Sibos2023 is almost upon us and promises to be one of the most exciting events yet!
- ESG & KYC: why they go hand in hand
- Movie time: our newest video about our team & solution for banks
- Celebration time: Sprint #100
- Give your business partners (temporary) access to your KYC documents
- Meet Chris! our newest virtual assistant
#Sibos2023 – the banking summit
Metro Toronto Convention Centre from 18 – 21 September 2023.
Among the assembled finance stakeholders will be CoorpID and our #CEO, Job den Hamer will be present and happy to discuss the latest ways our solution is helping to streamline #KYC outreach and document gathering, and bring value to #banks and corporates alike.
Visit Job at ING stand L44 👍 by booking a meeting with him through the Sibos app or through our website: www.coorpid.com/sibos-2023
ESG & KYC
EU’s CSRD will come into force in early 2025
The CSRD (Corporate Sustainability Reporting Directive) raises the bar in terms of accountability and standardisation for ESG (Environmental, Social and Governance) criteria. Crucially, organisations will be mandated to disclose sustainability information in their management reports, meaning both financial and sustainability information will be published side by side. All sustainability information needs to be reported in a standardised format to enable better comparison between firms.
In many ways, the CSRD simply demands organisations to bring their sustainability reporting in line with the financial disclosures mandated by KYC regulations. ESG means caring about more than just the environment; it also means taking an interest in social matters too. Cracking down on money laundering and other financial irregularities should be part of this. That’s why ESG and KYC go hand in hand.
CoorpID: Meeting all your regulatory demands
The financial penalties for failing to meet KYC regulations are significant. The reasons for these KYC penalties vary and could result from a lack of due diligence or outright criminal conduct. In many cases, organisations failed to show regulators the information required – and the same failings are likely to be behind penalties for non-financial compliance too.
The good news is that with CoorpID all disclosures – financial and non-financial – are easier to make than ever. Increased competition among financial institutions is turning KYC into a positive differentiator and the same is likely to be the case with sustainability. In fact, did you know that sustainability can boost both client demand and improve talent recruitment?
CoorpID is a great fit for KYC, CSRD and any other regulatory demands. Our ethos of ensuring data is high-quality, comprehensive and up-to-date is ideal for economic, environmental, and social metrics. Make sure your organisation is compliant with all regulatory demands – wherever they appear. www.coorpid.com
New video
📽 Get your popcorn, it’s movie time! 🎬
Recently we released our corporate video explaining how CoorpID is offering value to #banks and #financialinstitutions. KYC requirements are becoming increasingly burdensome for both financial institutions and their corporate clients. With CoorpID’s centralised secure digital #repository, you and your corporate clients can easily store, structure, track and exchange #KYC-related documents. Contact us for a #demo today and find out just how easy it is to incorporate CoorpID in your KYC outreach process.
Sprint #100
Celebration needs cake 🍰, off course!
31st of August, our Product Development Team celebrated the achievement of Sprint #100. A huge accomplishment!
Did you know that:
📣 we develop our platform based on ongoing user feedback
🗓 we release new functionalities (on average) every three weeks
🔑 security is key to us – we improve our platform based on performance and security standards
👉 What features would you like to see in the next 100 sprints? E-mail Sara! sara.siddiqi@ing.com
Give your business partners temporary access to your KYC documents
CoorpID enables corporations to share their highly confidential KYC documents with multiple banks and business partners, so they don’t need to send them via unsecure e-mail. Did you know that CoorpID’s clients already shared their precious corporate information with 115 parties?
> How to add an external partner relation to your CoorpID vault
Make sure you inform your partner banks in advance about your decision to shift KYC requests away from the security risks that accompany e-mail communications. You can do this by sharing this flyer, which explains just how easy it is to use our platform.
Meet Chris!
Chris is our virtual assistant in our recently updated interactive demo. She will help navigate new banking partners through the CoorpID platform. During the demo, players will take on the role of a bank employee who needs to onboard a new corporate client with multiple entities. Ready to play? Check out the #demo on our #website –> www.coorpid.com/demo
About CoorpID
CoorpID was developed within ING’s innovation department, in collaboration with 20 corporate customers from several countries. CoorpID facilitates the client outreach and KYC data collection process, and offers bank-grade security and Chinese walls to control access to information. Since our launch, more than 500 corporate users have used CoorpID to share their confidential KYC company documents with ING and other financial institutions.
We are continuously working on improvements and new features based on customer feedback, our KYC expertise, new developments regarding KYC and CDD best practices and rules and regulations. Follow us on LinkedIn or check out our blogs.
