Adapted to regional AML requirements
Penneo KYC is tailored to ensure AML compliance, designed in collaboration with local Danish, Swedish, and Norwegian AML experts to meet the specific requirements of your region.
Identify client business structures and ownership details
Automate the identification of client business structures and ownership details through our Nordic and global registry data providers, ensuring timely and accurate data. Identify Ultimate Beneficial Owners (UBOs), check for their connections to other companies, and document the entire KYC process.
Maintain client relationships with continuous automatic monitoring
Penneo KYC continuously and automatically screens your clients and their beneficial owners against Politically Exposed Persons (PEP) and sanctions lists, automatically notifying you of any changes to their situation. For clients that are legal entities, company information is also automatically retrieved from official business registers. This core service is provided at no extra cost.
Convenient and compliant identity verification
Improve your clients’ experience without sacrificing compliance. Clients receive a single email containing a link that guides them through onboarding, document upload and identity verification. Fully optimised for remote onboarding on any device. Set up automatic reminders to ensure clients submit their information on time.
Guided risk assessment
For AML compliance, not everything should be fully automated. Our risk assessment guide displays client responses, allowing you to assign risk scores based on informed decisions while maintaining a comprehensive overview.
Activity log keeps track
The built-in activity log automatically records changes and actions taken on client relationships. Tracking all monitoring, updates, and screenings against sanctions and PEP lists, creating a detailed digital paper trail for reporting purposes.
Archive and delete client data in due time
Easily archive and securely delete client data after the AML-mandated period. Deactivated relationships are archived for your chosen duration (up to 10 years), then automatically deleted. You’ll get a reminder 24 hours before permanent deletion.
Integrations and partners
Penneo KYC has an open API which makes it easy to connect KYC with the tools your team uses every day. Automate your workflows, reduce errors, and maximise efficiency.
“Penneo KYC helped us a lot with the control. We were able to show we collected the right documentation from our clients and were storing it securely. Thanks to the audit log, we could also show when we collected the information and document each step of the process.”
– Louise Jansen, Auditor at Complet Revision
Without trust, there’s no business
As business interactions become increasingly digital, the need for trust is greater than ever.
Penneo secures trust between companies and their clients by providing a platform that meets the highest security standards and complies with EU and local regulations.
VISIT OUR TRUST CENTER
Explore more resources
FAQs
Is it enough if I take a picture of my client’s passport?
The short answer is no. You need to ask your client a set of questions that should enable you to answer your internal risk assessment and provide the client relationship with a final risk score. Furthermore, receiving your client’s passport online is not sufficient, since you also need to validate your client’s identity either by seeing the passport and your client in real life, or through remote identity software (itsme®, MitID, BankID etc.)
How long does it take to onboard a client with Penneo KYC?
Depending on how fast your client is at answering your questions, the entire process from looking the client up in the data registries all the way to the final risk score will typically take less than 15 minutes.
Can I brand the Penneo KYC solution to my firm’s identity?
Definitely! Trust is at the core of our business and therefore we enable you to customise the risk questionnaire you send out to your clients with your own logo and picture, to provide your clients the familiar look and feel that they are used to.
Can I have a complete overview of all my clients and their risk levels?
Absolutely! We allow you to build your own custom dashboard with the content that you value the most. Most of our clients like to see an overview of all their clients, their risk levels, stage of the onboarding process, and the responsible employee for the client relationship.