Have you managed to pass our client onboarding process at one dash? You’ve been fortunate to bear the title of Mr. or Mrs. Outstanding Patience then that only some of our exceptional clients do. Not yet, really? Are you ready to try and take this challenge?
Anyway, a successful completion of the entire registration and identification process, together constituting onboarding, is a non-compromise must for our clients to start using our Platform services.
The solution we provide is based on the most advanced technologies to the extent possible; we mean distant digital service provided by our experienced partner, Veriff. This allows you to sit back and relax while your personality is being identified and verified remotely, simply using your camera, microphone and ID.
However, at this optimistic point we are forced to slightly disappoint you, as manual work cannot be completely avoided though. This means that you will need to fill in a 3-page-long questionnaire, that includes certain personal data providing, answering the so-called “yes-no” and open-end questions, making selections from a drop-down list, uploading files where applicable and typing a little.
It is time consuming and requires concentration, thus, you may find the entire process boring and even exaggerated. Therefore, it you dare and pass it, you honor our deepest respect and sincerest admiration, and, above this, even standing ovations!
Being serious, we are aware that our client onboarding process can make you feel annoyed and somewhat disappointed; however, we both win: we, as the Platform, as only loyal, patient and duly motivated clients eventually remain, while for you, as soon as the “marathon” is finished, all our services become available for direct and immediate use, without “ postponed questions”, i.e. necessity to provide additional (unexpected) information on latter stage when you are eager to make investments or to withdraw your funds, except for some special cases provided for in legal acts. Thus, you eventually gain, saving your time by passing all procedures and completing all requirements preceding wire transfers “at one time, in one place”.
One more thing you need to know that may partly excuse us for your time and attention you spend is that our client onboarding process is a natural and inevitable reflection of the common steady trend of AML requirements strengthening across Europe that international and local regulating bodies apply to the participants of financial markets; analytical data and numerous recent researches show that a growing number of crowdfunding platforms become increasingly aware of these requirements and the perception of platforms on the adequacy of these regulations is growing.
Compliance to AML requirements that naturally reflects, inter alia, in a more “sophisticated” client registration and onboarding is being increasingly perceived by crowdfunding platforms as a strong competitive advantage, as service quality mark rather than burden for their clients, and we believe that an adequate perception of this procedure by Platform users is a question of explanation and information disclosure.
Let us assure you that there are no redundant steps in our client onboarding process and no single question is tricky or excessive. We are persuaded that each and every crowdfunding platform will have a somewhat similar client onboarding process within a short period of time to be compliant with legislative requirements of the common market.
There are platforms in alternative finance market, aimed at aggressive marketing with maximum quantitative expansion in terms of the number of new clients and amounts of investments being raised. To achieve the financial objectives, compliance with regulatory requirements is often neglected. These platforms perform on the razor-edge, risking to have their bank accounts closed or their licenses revoked and, what is more important, exposing their clients to enhanced investment risks in this regard.
We would like to pay your attention that the compliance with regulatory requirements, including strict following of AML standards, is in essence a “quality mark” of a platform and is the evidence of highest care and respect of investors’ interests.