KYC-Check
Do you know your customer?
The digital world offers a wide range of opportunities, but also presents new challenges:
- Does your company fulfill its KYC obligations?
- Do you know who you are actually doing business with?
- How can you identify your customers online securely and without disrupting the customer journey?
GiroIdent Basis: Name Checking and Verification
The customer or business partner logs into his online banking via the finAPI bank interface and grants a view of his account. In real time, the name provided is compared with the first name and surname of the account holder. The result is a secure verification of the name details.
GiroIdent Plus: Matching of date of birth and address
GiroIdent Plus also verifies the name details via the bank account. But GiroIdent Plus also cross-references data from the extensive SCHUFA database. Date of birth and address are matched to detect and prevent fraud.
GiroIdent GwG: KYC check in accordance
with simplified due diligence
The German money laundering laws (AMLA/GwG) require many companies to verify the identity of their customers and business partners. For business dealings with a low risk of money laundering or the financing of terrorism, simplified due diligence obligations apply in accordance with paragraph 14 of the law, which sets lower requirements for identity verification. GiroIdent GwG is the intelligent solution for KYC verification of customers and business partners via online banking. The application is simple and convenient for your customers, and you quickly and securely fulfill the simplified due diligence requirements according to GwG.
GiroIdent GwG combines the competencies of finAPI and SCHUFA, using a range of reliable sources to securely verify the identity of a customer or business partner:
- The finAPI Banking API is used to retrieve account data and verify the account holder based on his personal data. Two-factor authentication at login ensures secure verification of the individual.
- SCHUFA-KontonummernCheck plus IBAN checks the connection between the personal data and the bank details stored at SCHUFA to verify the account holder.
- Using SCHUFA-IdentitätsCheck Premium, the personal data (name, address, and date of birth) of your business partner is compared with the SCHUFA database. This function also looks to see if the identity of the requested person has previously been confirmed using an identification document.
GiroIdent Youth Protection: KJM approved age verification system
With finAPI GiroIdent Youth Protection, the age of a user can be reliably verified. Name, address, and date of birth are matched in seconds by a one-time login to his or her online banking and a comparison with the database at SCHUFA. The Commission for the Protection of Minors in the Media (KJM) has given finAPI GiroIdent Youth Protection a positive rating as a system for age verification (AVS concept) for closed user groups in telemedia. More information in the press release
Full AMLA compliant identification
In cooperation with SCHUFA and its myConnect hub, finAPI enables customer identification in full accordance with GwG (Section 12 (1) 3). In a two-stage KYC process an ID photo or a “selfie ident” is and a 1-cent transfer are combined with the prescribed qualified electronic signature (QeS) to meet regulatory requirements quickly and easily.
For more information on the SCHUFA myConnect hub and the use of GiroIdent and Payment Initiation Service, please contact us directly.
Product comparison
All products for KYC check in comparison:
| GiroIdent Basis | GiroIdent Plus | GiroIdent Youth Protection | GiroIdent GwG | GiroIdent via SCHUFA myConnect-Hub | |
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Account access via online banking |
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Matching first name and last name |
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Matching the (previous) address |
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Matching the date of birth |
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Matching with deceased data |
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Check Q-bit */** |
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Auto-Ident procedure via myConnect Auto-ID GwG** |
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ID procedure myConnect-ID Check GwG** |
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1-cent reference transfer to a reference account |
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Qualified electronic signature |
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SCHUFA IdentityCheck Standard |
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SCHUFA IdentityCheck Youth Protection |
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SCHUFA IdentityCheck Premium* |
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SCHUFA account number check plus IBAN |
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KJM-approved system for age verification |
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Simplified AMLA check according to the German money laundering law (AMLA/GwG) section 14 |
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Full AMLA check according to the German money laundering law (AMLA/GwG) section 12, paragraph 1, 3rd sentence |
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* Not applicable for GiroIdent GwG with successful SCHUFA account number check plus IBAN
** Depending on the ID procedure used at the SCHUFA myConnect hub
Know your customer
The most important advantages at a glance
- Fast verification: Online and in real time
- No interruption of the transaction process
- Easy to use, very convenient
- Increased rate of completed transactions
- Protection against fraud and money laundering
- Combined expertise of SCHUFA and finAPI
- Protection of minors through age verification
- Efficient fraud prevention
- Complete due diligence checks
STRONG PARTNERSHIP
finAPI and SCHUFA cooperate on GiroIdent GwG for convenient and secure identification of consumers and business partners
GiroIdent GwG combines the competencies of finAPI with those of SCHUFA: To verify the identity of a customer or business partner, we use the data of the customer’s or business partner’s bank account and compare it with the SCHUFA database.
Bank account data is the beginning of a reliable KYC Check
The bank interface finAPI Access (XS2A – access-to-account) access bank account data and verifies the account holder on the basis of his or her personal data. Two-factor authentication at login ensures secure verification of the person.
Cross-check of account holder via the SCHUFA database
SCHUFA-KontonummernCheck plus IBAN checks the link between the personal data and the bank details at SCHUFA to verify the identity of the genuine account holder.
Comparison of personal data with the SCHUFA database
Using SCHUFA-IdentitätsCheck Premium, the personal data of your business partner is compared with the SCHUFA database. This function also looks to see if the identity of the requested person has previously been confirmed using an identification document.
Contact us
finAPI GmbH
Adams-Lehmann-Str. 44
80797 München
Social Media
BaFin
Officially licensed and supervised by the German Federal Financial Supervisory Authority (BaFin).
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