A corporate operating in multiple jurisdictions has relationships with different local banks. Every year they receive new KYC reviews for each of their subsidiaries from all their banks, asking for repeated and similar information.

Problems:

  • Similar information is required by different banks repeatedly across the year.

  • Updates (new director, new shareholder, new address) trigger multiple separate KYC projects.

  • Sensitive documents are emailed repeatedly to different banks.

Four people putting their fists together in a circle on a white desk with office supplies, a plant, notebooks, pens, a laptop, and a phone.

How Veridable can help:

  • Corporate can build a single, structured KYC profile for each of its subsidiaries in Veridable (ownership, directors, documents, policies etc).

  • That profile is organised into levels (L1/L2/L3) so each bank sees exactly what has been verified.

  • When something changes, corporate updates Veridable once – banks see the updated profile and change history.

  • For new banks or new products, they build their KYC request upon Veridable profile, instead of starting from scratch.

Benefits:

  • Dramatically less internal time spent repeating the same KYC admin.

  • Clear internal “source of truth” for corporate information.

  • Fewer copies of sensitive documents flying around in email; more control and better auditability.