Banks will check the connections of individuals and businesses under the RNOCPP in the UDR

Banks and financial companies will identify the connections of individuals by the registration number of the taxpayer’s account card (RNOKPP, previously – TIN). 100% accuracy of connection verification according to RNOCPP in the UDR was still not available on the market.

VKURSI will provide technological process capability for financial monitoring, anti-money laundering (AML), customer verification (KYC), sanctions compliance or audit departments.

Thus, on the VKURSI big data platform, a professional system for searching, determining and verifying the authenticity of the connection of persons and groups of related counterparties under the RNOCPP has been launched.

The system provides real-time information from the EDR and ensures reliable identification and verification of enterprises in which a person is a manager, representative, signatory, ultimate beneficial owner or founder.

Unlike last name, first name and patronymic (first name), which is an unreliable parameter, RNOKPP allows 100% accuracy in determining the relationship.

Using the system specialists in financial monitoring and sanctions compliance can with 100% accuracy identify sanctioned natural persons, publicly significant persons (PEPs), their family members or persons related to them among clients, unambiguously establish the connection of PEPs with legal entities. In addition, determine the ultimate owner of the company and verify the reliability of information about him.

AND lending specialiststhe credit risk calculation system will be needed to identify related parties and a group of related counterparties bearing a common economic risk.

Data sources and reliabilityThe VKURSI system provides data from the Unified State Register (USR) with an electronic seal of SE “NAIS”, the administrator of state registers of the Ministry of Justice of Ukraine. Thanks to the qualified time stamp, the authenticity of the information can be checked through the Integrated Electronic Identification System (ICEI) or the “Action” service.

The system allows you to identify managers, signatories, founders and ultimate beneficiaries with 100% accuracy, avoiding problems with name matches and their different spellings. This is especially important for financial monitoring, where it is necessary to accurately check the connections of customers and counterparties.

Search capabilities and reportsOn the basis of a search query using RNOKPP, the system generates a summary report containing information about related companies, individual entrepreneurs, property relationships, economic indicators and a visual diagram of relationships. The system also provides sanctions screening of all related individuals and companies and determines whether they have ties to Politically Prominent Persons (PEPs).

The obtained data can be integrated into corporate systems via API. In particular FUIB Bank already uses VKURSI to open accounts for legal entities completely remotely. The new ARI “Communications of a natural person by code RNOKPP” allows verification of the client’s representative (manager, signatory). And the ARI-methods “Constitutional documents of a legal entity” and “Financial reporting” – to properly check the presence of the necessary amount of authority in a natural person – a company representative.

Mass verification of customers for the Credit RegisterVKURSI will help to carry out a mass check of the voluminous customer base to identify groups of related counterparties and prepare a report with up-to-date data that will help banks and non-bank financial institutions to automate reporting to the NBU.

Thus, lenders, in accordance with NBU Resolution No. 180 and the rules for submitting information on active operations, from October 1 are required to submit to the Credit Register information about the debtor’s membership in a group of legal entities under joint control, the status of the debtor’s participation in the group, and the debtor’s affiliation with related counterparties.

To take advantage of the new features of the system, it is necessary to register on the VKURSI platform and leave a consultation request, during which the user will receive test access to the system.