As part of our growth strategy, we are working on accelerating our market penetration by initiating projects so potential users can test out our platform. As a two-sided platform, potential users are banks that use CoorpID for their KYC outreach processes and corporate clients that use CoorpID to send KYC documents to all of their banking partners. In this blog colleagues Bart Jansen, Scale Up Lead at CoorpID and Jelmer de Vries, Customer Development at CoorpID explain about the current pilot projects at two European banks.
“In the last couple of months, the banks participating in the pilot were given the opportunity to test CoorpID as a KYC client outreach tool with a select group of their multinational clients”, Bart Jansen, explains. “Initially, clients were selected who also banked with ING and who already used CoorpID to store and exchange KYC-related documents. However, in the meantime, other non-ING clients of these two banks have also become interested in using CoorpID as their KYC document exchange tool and have now joined the pilot programme as well. In addition, some of the pilot project clients are also approaching other banks that they bank with to ask if they can use CoorpID to exchange KYC documents with them.”
Flywheel effect of successful pilots
“We are very pleased with how these pilot projects are unfolding and the positive spin-off that we have seen so far”, Bart continues. “As more and more clients and banks discover the advantages of using CoorpID, the adoption of CoorpID as Europe’s number one KYC client outreach tool will continue to gain momentum.”
Centralised KYC client outreach
“Another interesting development, which is also being tested in these pilot projects,” Jelmer adds to this, “is how CoorpID can be used as a collaboration tool to facilitate the centralised KYC client outreach for a whole group of companies. When CoorpID is used as the bank’s only KYC client outreach tool globally, relationship managers and KYC analysts will be able to have insight into all the KYC documents of the relevant entities in a group of companies. The group or the group of companies will only have to upload a document once and then this can be shared with all the banks they bank with and, within the bank, with all the relationship managers and KYC analysts worldwide. This represents a huge efficiency gain for all parties involved and will play a significant role in reducing the KYC client outreach burden for both banks and their clients.”
Interested in participating in a Pilot Project?
If you are also interested in participating in a pilot, please contact us for more information!
Bart Jansen – bart.jansen@ing.com
Jelmer de Vries – jelmer.de.vries@ing.com
