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KYC and compliance process
The Cashlink Studio displays information about the KYC/AML and the compliance process.
For each customer, the KYC status is shown having one of the following values:
- Ident started
- Under review
- Manual review required
Once the identification at the KYC provider is successful, the investment and investor data is sent to our liability umbrella partner Effecta (if configured). If a customer chose to register via the dedicated registration process without investing simultaneously, only the investor data is sent to Effecta. For each investor and investment the Cashlink Studio displays the compliance status having one of the following values:
- Data not yet transmitted
The compliance information will then also include the detailed feedback from Effecta, if available.
If the KYC status, investment compliance and investor compliance are all successful, then the investment is ready to be accepted by the issuer.
If a legal person registers an account on the platform, a manual review needs to be done by the platform admin in addition to the KYC verification, where the commercial register statement and list of shareholders must be uploaded. Afterwards, the benefiting persons must be checked where the platform admin can add, edit and delete benefiting persons.
Once the manual review is completed, the investment and investor data incl. the uploaded documents are then automatically exported to Effecta for compliance review (if configured).
From time to time Effecta may require a new identification for the investor because the one created is not valid or data has changed that is not reflected in the (past) identification. For you to resolve this, you can initiate a new identification in the Cashlink Studio on the details page of the investment where the requirement is set by Effecta.
If the process is not finished by the investor, you're also able to cancel the investment.