Pannovate
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Compliance

Customer Onboarding

(KYC/B & AML)

Onboarding has traditionally been a very manual process which introduces the most of amount of friction with customers.​

Pannovate's digital onboarding solution ensures your business stays compliant and protected with our advanced know-your-customer, know-your-business (KYC/B) and anti-money laundering (AML) services.

Onboarding verification process showing user information check
KYC workflow diagram showing the onboarding process flow

Pannovate's onboarding solution allows you to alter the workflows so that they meet your (or your bank sponsors) current and future needs. ​

Our solutions simplify customer identity verification and risk management, helping you prevent fraud and financial crime with ease. By automating these crucial checks, we help you meet regulatory requirements, reduce risk, and build trust with your clients. With seamless integration into your existing systems, our services empower your business to stay ahead of compliance obligations while focusing on growth.

Typical Onboarding Workflow

Screening
The initial step of any onboarding process includes screening the applicants against Standard International Sanctions (SIS) lists, which, if matched, results in an automatic decline. The next check is against the Politically Exposed Persons (PEP) list, where a business can decide to onboard if it fits their risk profile. These checks are continuous; however, the frequency will depend on the risk profile of your customers or the requirements of your sponsor banks.
Step 1

Screening

Screening verification interface
eKYC/B
eKYC must follow the 2+2 rule defined by the Joint Money Laundering Steering Group (JMLSG), the international standard for verification. The rule requires two pieces of information from two separate sources for example, a name and date of birth matched against a credit record, and a name and address matched against the electoral roll. Ultimately, the customer must verify their name, date of birth, and address.
Step 2

eKYC/B​

eKYC address form
Verification
Customers have to verify the information provided in previous steps by going through a series of verification stages, which can (subject to the compliance framework) include: 1. Document Verification: upload of address verification, proof of income, etc. 2. ID Verification: Upload of government-issued IDs, passports, driving licences. 3. Biometrics: Facial Recognition, 3D liveness detection and authentication
Step 3

Verification

Driver's license document
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Pannovate offers global KYC/B coverage, which helps you navigate evolving regulatory and compliance requirements across various markets and regions without hindering growth​.