Know Your Customer

All financial institutions are legally required to have a good understanding of their current and potential customers. It is important to know who owns or controls a company to ensure compliance with regulations such as anti-money laundering laws.

This is often referred to as the KYC (Know Your Customer) principle. In line with industry guidelines, Ayvens will implement a KYC process that ensures us enhanced customer insight and digitally traceable documentation.

If there are rights holders who cannot use Bank ID, a separate identification form can be used. Download here.

Corporate Clients

Corporate clients must provide certain information and documentation before a customer relationship can be established and transactions conducted. The following information about the customer must be collected:

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  Company name
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  Legal form
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  Company registration number
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  Address

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  Name of the CEO and board members, or persons in equivalent positions
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  Information and documentation must also be obtained regarding:
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  Which natural persons act on behalf of the customer or have authorization over the account.

In addition, information and documentation about:

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  Ownership and control structure of the customer
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  Ultimate beneficial owner of the customer (UBO)
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  Determination of whether persons acting on behalf of the customer or granted authorization or the ultimate beneficial owner are so-called "politically exposed persons" (PEP)

Purpose and intended nature of the customer relationship The following information must be entered before the document is signed with Bank ID and returned. Bank ID is accepted as valid identification, and the company certificate is automatically downloaded when the company's registration number is entered into the form.

Why do we conduct a KYC process? It is a requirement under regulations that financial institutions should know their customers and their business purposes. Additionally, we must be able to demonstrate to supervisory authorities that we meet legal requirements for customer due diligence and ongoing monitoring of customer relationships.

What do we use the information for? The main purpose of this process is to gather information about our customers to identify and reduce risks such as money laundering, financing of terrorism, and other illegal activities. This fosters predictability and security in business relationships, helping to avoid significant risks of economic crime in society.

Do you, as a customer, need to respond? Yes, it is important that you as a customer respond to the questions you receive from us in this context. You may be asked to submit documentation for your answers, and we process this information in accordance with applicable guidelines to ensure your identity.

All our customers will regularly be asked to respond and document what we inquire about. In the worst case scenario, failure to respond or provide documentation may result in the termination of the customer relationship.

Questions If you have any questions, please contact your Account Manager.