Commercial Passport KYC
Secure Document Solution
Secure Document Solution
Speed through account opening & relationship formation with digitized KYC
Secure Document Solution enables single-point, secure digital KYC storage and maintenance, true-copy certification and instantaneous document exchange, saving you the cost, hassles and time lost to paper-format KYC requests
Features
- Easy to use document management and exchange platform for individual and legal entity KYC/client due diligence documents
- Confidentiality is assured through permissioned document sharing by sender-owner to receiving counterparties and institutions
- Share discrete KYC documents, or assemble complete bundles for legal entities and their owners and controllers
- Blockchain-based chain of custody control provides permanent, universal verification of document integrity and lifecycle history
- Simple, single point document updating with ability to automatically share fresh documents with permissioned counterparties
- Integrated trusted third party document certification subsystem replicates existing true copy document certification protocols
- Account-free secure sharing protocols permit secure exchange of documents to non-user recipients & institutions
- Fully encrypted data storage hosted exclusively from Swiss data centres and subject to the world's strongest data protection laws
Users & Industries
- Fund Administration
- Fund Management
- Family Offices
- Offshore Entities & Structures
- Trust Management
- Professional Services
- Corporate & Fiduciary Services
- Governance Professionals
- Wealth Management & Advisory
- International Private Banking
- Investment Entities & SPVs
- Insurance
Benefits
Efficiency
Speed through account opening, subscription and client onboarding processes and save costs by sending and receiving electronic format KYC documents
Digitization
Replace the repetitive, expensive & time consuming practice of printing, certifying and couriering paper copy KYC with single-point secure digital documents
Information Security
Reduce the risk of identity theft or loss of confidential business information from poor data hanlding practices and the use of email as a means of confidential document transmission
Chain-of-Custody Control
From the point of true copy certification, our innovative use of Blockchain technology ensures complete chain-of-custody protection over documents, preventing tampering and falsification
Currency
Keep your organization's documents current on commercialpassport.net, and automatically share updates with your counterparties and institutions
Permanent Universal Verification
Using only a web browser, recipients of Commercial Passport SDS documents can verify point-in-time existence and integrity of original document content
Regulatory
Commercial Passport's Secure Document Solution provides KYC documents in a format which complies with regulatory requirements for certified true copy documents
Environmental Best Practice
Paper-based KYC document exchange is among the most antiquated and wasteful business practices today. Go green with digital documents.
Feature Comparison: Commercial Passport Secure Document Solution and Universal KYC Solution
| SDS | UKYC | |
|---|---|---|
| Use case | Individual KYC documents Legal entity KYC documents (unstructured) | Legal entity KYC documents (structured) |
| File format | Secure digital document (PDF) | Secure digital document (PDF) |
| Information format | Individual documents Free-form bundles | Universal KYC Passport (compiled master KYC record) |
| Credentialed 3rd party true copy certification | Yes | Yes |
| Records custodian upload of certified copies | Yes | Yes |
| File encryption and Blockchain integrity verification | Yes | Yes |
| Structure & benefical ownership analysis | No | Yes |
| Substantive information review by Commercial Passport | No | Yes |
| Account-free document receipt with secure PIN | Yes | Yes |
“The current KYC gathering and handling process across the financial services industry has always concerned me from a security perspective. Commercial Passport KYC solves this problem, powerfully, and removes business risk. We have all been waiting a long time for this.”
Managing Director, Trust & Fiduciary Services, Top 10 Global Investment Management Firm