Thanks to Finologee’s expertise in building and running business-critical and regulated infrastructures that are live since 2006, the Software-as-a-Service (SaaS) framework that KYC Manager is part of has been designed to meet outsourcing requirements that apply to the Luxembourg financial industry1. KYC Manager is provided in a SaaS mode and hosted in Luxembourg in a Tier IV data centre by EBRC. Besides the KYC Manager product, Finologee also runs several critical infrastructure platforms in its ‘Trusted FinTech’ environment: the PSD2 for banks infrastructure for more than 35 banks, e-money and payment institutions; the Digicash platform for Payconiq and the Mpulse telecom payment and routing system, handling hundreds of millions of transactions a year.
Finologee operates under a ‘Support PFS” (Professional of the Financial Sector – “PSF de Support”, articles 29-1 and 29-4 of the Luxembourg 5 April 1993 law on the financial sector) Licence (N° 06/19) issued by the Luxembourg Minister of Finance and as such is subject to full financial industry compliance requirements. It is also ISO/IEC 27001 certified.
The modularity of the KYC Manager platform comes from a wide and readily available array of components and APIs that enable financial institutions to cherry-pick components and modules to create hyper-personalised end-to-end client and employee experiences.
The integration of these different components into the ready-to-use KYC Manager platform allows system users to design and build smooth, frictionless, and efficient digital KYC user journeys, such as digital onboarding flows, KYC remediation campaigns, client/account update campaigns, periodic KYC review campaigns, black list/sanction list checks, adverse media and business register/database checks and many others.