KYCnow – Fast and expedient

Partner JITpay™ Financial GmbH

Product KYCnow

Showcase Digitalize KYC processes

Added value Faster, more effective onboarding

As a start-up in FinTech and logistics, JITpay™ operates in the areas logistic expense reports and factoring, as well as fully integrated process handling. That includes refinancing processes. JITpay™ digitalizes billing processes in logistics and undertakes the settlement of all logistic-related costs for consigners, shipping companies and hauliers. This central settlement accounting is combined by JITpay™ with its own (reverse) factoring product that enables immediate payment of service providers. This means that consigners and shipping companies gain the additional option of making flexible payment arrangements.

Background to the new KYC process

The platform solution KYCnow trims down and optimizes KYC processes for responsible persons under the Money Laundering Act, as well as for customers. Through complete digitalization and automated processes, it allows the fulfilment of regulatory requirements and the duty of care in accordance with the Money Laundering Act – while simultaneously reducing process efforts. More than that, it can be easily customized and integrated into existing processes at any time.

Implementation with JITpay™ Financial GmbH

JITpay™ applies the KYCnow solution in two ways to fulfil the extensive KYC obligations. Members of staff at JITpay™are supplied with every contract partner’s complete, digital KYC file through the interface KYCview. Thus, KYCnow is the central tool for editing, documenting and updating intern KYC processes. JITpay™ also utilizes the interface to KYCnow to support the digital application process (particularly regarding reverse factoring).

Added value for our customers

By using the KYCnow platform, customer onboarding has become significantly faster and more effective. The verification of new customers through the different modules, from transparency register excerpts over assessment of sanction- and PEP lists to the creation of a complete KYC file, helps the customer in their observance of due diligence every day.

“After getting to know the performance levels in the B2B sector, I can unanimously recommend a partnering. The KYCnow platform lifts the entire KYC process into a more digital, much smarter world. For us, that is one of the essential aspects of a good and long-standing partnership.”

Dennis Wallenda, Geschäftsführer JITpayTM Financial GmbH