CoorpID for Financial Institutions

The Know Your Customer challenge: streamline your KYC outreach process with CoorpID

Use the KYC company information that your client has stored in its CoorpID vault as the starting point for your desktop research and minimise the client outreach. 

Reduce the KYC burden and streamline your client outreach process with CoorpID

As you know, banks and other financial institutions are having to comply with increasingly strict Know Your Customer (KYC) requirements when onboarding customers, performing reviews, or providing new products and services. As a result, you have to contact your customers frequently to request KYC information. This important step in the whole KYC process – the client outreach – is often a very time- consuming, burdensome and costly process. Customers have to respond to these requests timely and make sure that they provide up-to-date information to each financial institution. This can become a real challenge, in particular, for multi-entity corporations that operate across several geographies and have multiple banking relationships. A challenge that CoorpID has now turned into an opportunity to improve the KYC journey for both financial institutions and their customers.

Created by potrace 1.10, written by Peter Selinger 2001-2011
Created by potrace 1.10, written by Peter Selinger 2001-2011
Created by potrace 1.10, written by Peter Selinger 2001-2011
Created by potrace 1.10, written by Peter Selinger 2001-2011
STEP 01
Handle the whole client outreach information- gathering process in a highly efficient, well-structured and secure manner
STEP 02
Use the KYC information that your client has stored in its CoorpID vault as the starting point for your desktop research and minimise the client outreach
STEP 03
Send targeted information requests to clients to obtain the required KYC information for each individual corporate entity
STEP 04
Avoid communicating and exchanging confidential and sensitive information via email
Created by potrace 1.10, written by Peter Selinger 2001-2011
Created by potrace 1.10, written by Peter Selinger 2001-2011
Created by potrace 1.10, written by Peter Selinger 2001-2011
STEP 05
Easily integrate CoorpID with your existing KYC workflow systems by logging in through the browser or using an Application Programming Interface (API)
STEP 06
Standardise your information requests using the best practices incorporated in CoorpID
STEP 07
Improve the KYC customer experience and customer journey
STEP 01
Handle the whole client outreach information- gathering process in a highly efficient, well-structured and secure manner
Created by potrace 1.10, written by Peter Selinger 2001-2011
STEP 01
STEP 02
Use the KYC information that your client has stored in its CoorpID vault as the starting point for your desktop research and minimise the client outreach
Created by potrace 1.10, written by Peter Selinger 2001-2011
STEP 02
STEP 03
Send targeted information requests to clients to obtain the required KYC information for each individual corporate entity
Created by potrace 1.10, written by Peter Selinger 2001-2011
STEP 03
STEP 04
Avoid communicating and exchanging confidential and sensitive information via email
Created by potrace 1.10, written by Peter Selinger 2001-2011
STEP 04
STEP 05
Easily integrate CoorpID with your existing KYC workflow systems by logging in through the browser or using an Application Programming Interface (API)
Created by potrace 1.10, written by Peter Selinger 2001-2011
STEP 05
STEP 06
Standardise your information requests using the best practices incorporated in CoorpID
Created by potrace 1.10, written by Peter Selinger 2001-2011
STEP 06
STEP 07
Improve the KYC customer experience and customer journey
Created by potrace 1.10, written by Peter Selinger 2001-2011
STEP 07

CoorpID is a secure digital vault and document management tool that financial institutions and their corporate clients can use to exchange KYC- related documents and information. With CoorpID, you and your corporate clients can streamline the KYC compliance process, reduce repetitive manual tasks, avoid errors, save time and cut costs: a win-win situation for both parties.

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Trusted & Secure

CoorpID was originally developed within ING’s innovation centre to facilitate the client outreach and KYC data collection process for both the bank and its corporate clients. As a result, CoorpID offers bank- grade security and Chinese walls to control access to information.

CoorpID was designed as a web-based document management and exchange platform that can be used by any financial institution or any client to exchange information securely once they have been granted access to the platform.

Plug & Play

CoorpID is a plug and play web-based tool that can easily be integrated with your existing workflow systems by logging in through the browser or using the Application Programming Interface (API). Its intuitive interface, based on in-depth knowledge of the KYC process, offers an excellent user experience.

With CoorpID, bank customers can:

  • Upload their KYC documents to the secure CoorpID vault
  • Compile a KYC information package for each corporate entity
  • Visualise the organisational and ownership structure of each entity
  • Update information on the corporate and/or entity level
  • Handle KYC requests quickly and efficiently from one central location
  • Select documents and share these documents securely with their bank or business partner
  • CoorpID is bank-independent, clients can share documents with multiple banks and business partners
  • Share KYC documents securely via CoorpID with banks and business partners that are not registered on the platform
  • Remain in control over who has access to the information that they share
  • Automatically record all document exchanges and build an audit trail
  • Update their KYC information and notify their banks and business partners of any changes with a single click
  • Receive automatic reminders of expiry dates
  • Streamline collaboration between departments and teams
  • Collaborate across entities when handling multi-entity KYC requests
  • Assign roles and delegate tasks to colleagues in CoorpID

Save time on every KYC review