From MVP to Forty Companies in First Year
CoorpID has been on trial with multiple corporate organizations through 2019. Customer feedback and iterative enhancements have helped hone CoorpID into a full-featured first-of-its-kind KYC solution, which became available to more corporates at the end of 2019.
The new product is already winning international acclaim. ING "scooped the pool" in Global Finance magazine's Innovators 2020 awards, taking home four gongs, including the Most Innovative Bank in Western Europe. CoorpID contributed to that success by winning the Corporate Finance "homegrown innovation" award.
Now used by over 40 companies, CoorpID provides a secure digital vault for organizations to easily store, manage, share, and synchronize their KYC documents with multiple business partners.
CoorpID's features include:
- Visual modeling of corporate entities, from parent company to subsidiaries and divisions.
- Management of key contacts against entity structure.
- Task cards that guide users through the steps needed to add required KYC data and required documents.
- Manage relationships with multiple banks, with a visual overview of what data needs attention.
- Share KYC documents instantly and securely with banks. Control which documents are shared, track each document's status, and receive a notification once all documents are verified.
- CoorpID users always stay in charge of their KYC tasks via their personal dashboard.
The benefits for organizations using CoorpID are considerable, as Dave explains.
"CoorpID eliminates repetitive document collection and manual emails. It enables the collaborative assembly and management of information and supports collaboration between employees at banks and corporates to complete KYC checks more quickly."