Know Your Customer (KYC)
Finding investors? Launching a new startup? Don’t overlook KYC requirements.
From onboarding new customers to keeping a close eye on your customer activities, robust KYC processes aren’t just about compliance; they’re about protecting your company’s reputation and building client trust. Yes, the process can feel daunting. That’s where Lanturn comes in. We simplify the process, ensuring a seamless experience for businesses, asset managers and investors to stay compliant without the hassle.
Lanturn’s End-to-End KYC Process
The Know Your Customer process in Singapore typically involves collecting documents and verifying customers’ identities. But at Lanturn, we take a step further. Our end-to-end solution is designed to meet your business’s unique needs, ensuring seamless compliance at every step. Here’s how our comprehensive KYC process works:
Assessment of Business Needs
Every business or fundraising is unique. Instead of having a standard pricing for KYC checks, we want to understand the nature of your business or fundraising and the profiles of those involved.
Secure Collection of KYC Documents
Our KYC checks include collecting an individual’s passport and any national ID for individual KYC. For companies, we will require all charter documents in English, including company incorporation documents and official documents with the registered office address.
Customised KYC Verification and Compliance Checks
We will conduct a personalised and comprehensive review of the customer profiles involved during the KYC verification and compliance checks to keep your business fully aligned with Singapore’s regulatory requirements.
Compliance-ready Reporting & Digital Record Storage
At the end of the KYC checks, you will receive reports presented in relevant formats for record-keeping, audits, and regulatory compliance checks. Our process will be conducted digitally, which means all your records will be stored securely on our platform.
How We Ensure Data Security on our Platform
In today’s interconnected world, data security is essential. When companies entrust us with their data, we don’t just protect it; we make it our mission. Our security frameworks are rigorously aligned with Singapore’s ISO standards, ensuring confidentiality, integrity and availability across every touchpoint. When entrusting us with your data, you can rest easy knowing we’ve got you covered.
Why Choose Lanturn for KYC Services in Singapore
At Lanturn, we prioritise stringent KYC checks as much as we value your business. Our tailored KYC services are designed to meet the diverse needs of any business. Here are the reasons why you should choose Lanturn for your KYC:
Why Choose Lanturn for KYC Services in Singapore
Our team of experts stay current with Singapore’s evolving regulatory requirements. Additionally, with in-depth knowledge of various corporate structures, we also provide accurate, comprehensive and up-to-date solutions for risk management and corporate governance in the area of anti-money laundering (AML).
Technology-Driven KYC Checks Online
We harness the power of technology to make KYC checks more accurate and accessible than ever. Our cloud-based platform enables our team to conduct secure and reliable KYC checks online in real-time.
Trusted by Leading Startups and Enterprises
For years, leading startups and enterprises have trusted Lanturn’s rigorous KYC process to keep them compliant and protected. Our team goes beyond the basic. We conduct thorough due diligence and comprehensive screening for AML/CFT to ensure every business we manage meets the compliance standards.
Watchlists We Screen For
Wonder about the other watchlist we are screening? Speak with us today to discover the full range of watchlist options, and we will ensure your business is always a step ahead.
Politically Exposed Person
(PEP)
Sanctions Ownership Research
(SOR)
Other Official & Exclusion Lists
(OOL/OEL)
Enhanced Country Risk
(ECR) Profiles
Benefits & Advantages of KYC with Lanturn
Partnering with Lanturn for your KYC needs comes with a host of benefits and advantages. Here are a few benefits when you choose Lanturn:
Streamlined Onboarding
We make customer onboarding hassle-free. Before your business brings in a new client or partner, we handle the identity verification process swiftly and securely. With our cloud-based platform, we streamline every step, enabling you to onboard customers faster without compromising on compliance.
Reduced Risk & Regulatory Penalties
We recognise the importance of combating financial crimes, especially for international businesses that engage in cross-border transactions. Our rigorous KYC process ensures companies stay ahead of regulatory requirements, reducing risk and potential penalties.
Enhanced Customer Trust
With a proper customer due diligence process, it will not only elevate your customer’s experience but also enhance customer trust.
Automation and Digital Workflows
Manual KYC checks can be time-consuming and prone to human error. However, our automated KYC process transforms this situation—it provides enhanced accuracy and efficiency, while our ongoing monitoring ensures that customer records are kept up to date.
Ready to Simplify Your KYC Process?
Staying compliant doesn’t have to be complicated. That’s why startup founders and businesses trust Lanturn’s KYC services to handle the customer onboarding process. We offer one-time or ongoing Know Your Customer (KYC) checks for businesses, investors, and asset managers.
Book a Consultation with Lanturn
Our team of experts is well-versed in Singapore’s regulatory landscape and is ready to provide the guidance you need. Speak with our team and get the answers you need.
Speak to a KYC Compliance Specialist
Concerned about a potential fraud? Our KYC compliance specialists are here to help you safeguard your business. Get expert guidance and the peace of mind you deserve.
Frequently Asked Questions
What information is collected during a KYC check?
During a KYC check, the information typically collected to verify a customer’s identity includes their passport, which contains their name, date of birth, identification number, and proof of address. Likewise, for companies, the information collected includes financial reports, company incorporation documents and official documents with the registered office address.
How long does the KYC verification process take?
The duration of a KYC verification process varies depending on the method used. For manual KYC verification, the process can take from a few hours to several days. However, automated solutions can complete the process in just a few minutes.
Can I complete the KYC process online?
If you are an entrepreneur or asset manager wondering about what KYC is and its process, the good news is, you can complete the KYC process online. There’s no need to be physically present in Singapore. Just fill out the form, upload the required documents, and your corporate service provider will handle the rest. With Lanturn’s fully digital KYC process, you’ll be verified quickly, efficiently and hassle-free.
What are the most common KYC documents required?
For individual shareholders, the most common KYC documents required are a passport, which contains personal particulars and proof of address. For corporate shareholders, the requirements include the company constitution, a certificate of incumbency, the shareholding structure, the certificate of incorporation, and individual KYC documentation for the UBO.
How often should KYC be updated?
Businesses are encouraged to update their KYC information periodically, with the frequency determined by the customer’s risk profile. To prevent fraud and ensure compliance, Lanturn provides ongoing KYC checks to keep your records up-to-date and your business protected.
Protect Your Business in a Global Economy
KYC checks are becoming more essential than ever for companies in the increasingly global economy. As financial risk increases, investing in a robust verification process is crucial for safeguarding the company you’ve built. Ready to streamline your KYC process? Lanturn got you covered with comprehensive KYC checks and ongoing monitoring, so you can focus on growing your business.
Start the journey
Get a quick quote from our team
Our sales team will be in touch within the same business day
All fields are mandatory