Verified AML-related business data at your fingertips, integrated in your bank’s processes & IT systems.
Companies that start a commercial relationship with your bank, enter their KYC data in your online onboarding environment.
Your bank’s compliance officer receives the data and verifies every field according to commonly agreed verification rules.
The KYC dataset and the verification status of each individual data field is published on KUBE for other banks to use
(as long as they are authorised by the company to do so).
Banks that are connected to KUBE and start a commercial relationship with a company already on KUBE can use the KYC data and the verification status of each field.
They can even send updates that will then be shared with the other banks.
KUBE is based on a trusted cooperation with a rulebook agreed upon by all KUBE members.
KUBE is an open platform in which banks have to adhere to governance rules. Your bank is member of a governance body that guards KUBE’s future.
KUBE conforms to GDPR by design, is AML compliant, vetted by external audit, and provides full auditability of all transactions.
APIs and their documentation are available to facilitate back-end & front-end integration in your bank’s own systems.
Banks are unaware of the company’s other business relationships without authorisation of that company.
Less errors means less rework and reduced costs to remain compliant. Instead of duplication effort you get mutualisation effort.
KUBE is extensible: new external data sources and partner offerings can be added.
As a bank, you receive compensation for your KYC verification effort.
Less time spent on KYC and AML checks means you can spend more time talking business with your customers.