Know your customer effortlessly with the Clento KYC tool

With the help of the Clento software, you create an operating model for your company, where KYC information can be integrated into the risk management of the entire company.

Clento KYC tool

Clento is an easy-to-use SaaS (Software as a Service) service that enables the person with duty to report under the Money Laundering Act to perform the customer’s duty of knowledge in a straightforward and reliable manner. The system takes into account all the needs related to knowing the customer from the beginning to the end of the customer relationship. A comprehensive compliance system creates an operating model for the company, which allows customer knowledge to be integrated into the risk management of the entire company.

Easy

Clento is an easy-to-use cloud service that does not require an installation and is always up to date. Manual data processing is no longer required, data processing has been handled as automatically as possible. The KYC process for a new customer takes only 5 minutes on average.

Reliable

Logging in to the service always uses a two-factor authentication. At Clento, critical data is also encrypted at the database level, it can only be processed by authorized persons. Information security of the service has been given special attention and will be constantly developed and audited by a third party.

Audited

The legality of the Clento tool has been well thought out and its development has been commented on by the supervisory authorities. The KYC process made with the tool has been approved by e.g. the Finnish Financial Supervisory Authority. Security audits are handled by Pinja Oy.

Features of Clento software

Sähköinen henkilöllisyyden todentaminen

Electronic identity verification

You can verify your customer's identity with online banking authentication or a mobile identity. The identity of foreign customers are verified by a reliable biometric identification method.

Valmiit sähköiset tietopyyntölomakkeet

Completed electronic information request forms

Clento has ready-made information request forms suitable for all types of customers. If your business has special needs, they will be taken into account in individual information requests tailored to your business’ needs.

Riskien tunnistus ja tuntemistietojen dokumentointi

Risk identification and documentation of customer knowledge

The service guides the user to identify the money laundering risk and allows the findings to be documented. This allows for customer categorization and a risk-based approach.

Tietoturvallinen toimintamalli asiakkaan tuntemiseen ja jatkuvaan seurantaan

A secure operating model for customer knowledge and continuous monitoring

Information flows between the customer and the person with duty to report via secure connections. Confidential documents are never transmitted via email.

Ulkomaisen henkilön tunnistus

Identification of a foreign person

It is possible to verify the identity of a foreign person biometrically. The method provides a reliable way to authenticate a person who does not have a Finnish electronic identity verification device.

Retrieval of data from external registers

You can retrieve extracts and other information directly from the Finnish Patent and Registration Office’s register directly under the customer file.

Tietojen säilyttäminen ja GDPR:n mukainen poisto

Data retention and deletion in accordance with GDPR

Customer knowledge information is secure and separate from other customer data and is easy to delete, as required by the Privacy Policy.

Pakote- ja sanktiolistatarkistus

Sanctions and sanctions list review

The person with duty to report must ensure that the customer cannot be found on the sanction lists. Clento will check your customers and their affiliates from EU, UN, NBI and OFAC (USA) lists.

Rajapinnat toiminnanohjaus- järjestelmiin

Interfaces to Enterprise resource planning (ERP) systems

Clento has an interface that allows the service to be seamlessly connected and integrated to other systems your company uses.

Benefits

What are the benefits of Clento for the person with duty to report?

Pre-built operating model for collecting and analyzing cognitive data

Risk identification

Saving time and resources

Allocation of resources required by a risk-based approach

Monitoring the quality and timeliness of knowledge

Collecting and analyzing customer knowledge significantly increases the workload of the person required to report. With the right ways of working, it is possible to streamline the time spent on the familiarity process so that getting to know the customer is integrated into the company’s day-to-day operations. It is therefore up to each person with the duty to report to consider the methods by which customer identification and data maintenance can be carried out without creating an unnecessary cost element. A good operating model benefits both the data collector and his or her customer.

Clento helps the person with duty to report identify the customer by creating a consistent and effortless operating model for the organization that takes into account a risk-based approach. The purpose of the risk-based approach is to avoid unnecessarily burdensome procedures when the risk is low and, on the other hand, to ensure that the procedures are adequate when the risk is high. When customer knowledge methods and classification models are clear and pre-thought out, mistakes and unnecessary work are avoided. A comprehensive system provides assurance that customer knowledge has been handled properly and that information is not scattered across the company’s various systems.

To whom?

The Act on Detecting and Preventing Money Laundering and Terrorist Financing (444/2017) defines exactly who has the duty to report.

Persons with the duty to report include:

Banks and financial institutions

Auditors

Lawyers

Recovery officers

Insurance companies

Accountants

Real estate agents

Pension insurers

Clento’s architecture is constructed so that different risks can be considered with different approaches. If the risk in the industry is small, then lighter methods are used. When access to information and the need for monitoring is greater, then Clento allows for more accurate monitoring. Flexible architecture is important because legislation and government regulations are in a state of constant change.
Knowing the customer is also important for companies doing international business. With the help of Clento's interfaces and biometric identification, counterparties can be identified from all of Finland's major trading partners. Clento also offers the software with multiple languages to allow use when the company has an international business.

Software Deployment

The system has taken into account the different needs of people with duty to report so that it is immediately ready for deployment. Identifiable customers can be brought into the service with an external file or by opening an interface to the current ERP system. Opening a new customer in the system is easy because the system retrieves the necessary information about the customer through various interfaces.
Different actors collect different information from their customers. Clento has created ready-made forms for the various reporting industries. If your company has special needs for data collection, then it is possible to adapt the forms to a new format to meet individual information retrieval needs.
The program handles large customer masses effortlessly. If an organization needs to get knowledge up to date quickly, then Clento manages to gather data from thousands of customers in a short amount of time and with little effort. The people in charge can monitor the quality and timeliness of the knowledge from their own point of view. Click here to see a description of our customer's deployment project.

Are you interested? Contact us!



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