your KYC process

with fintract OCR-API.

Easily digitize register excerpts.

With the automated reading of company information, you can speed up your KYC processes and save on customer acquisition costs.

Within the framework of the identification and verification of new and existing customers (= “Know Your Customer Process” or “KYC” for short) for the prevention of money laundering, corruption, and terrorist financing, companies are legally obliged to document their searches. For a long time now, it has not only been companies from the financial sector that have to comply with this obligation; organizations from all industries have to deal with the issue.

International minimum standards for KYC checks have been defined to standardize the requirements. Among other things, these are regulated in the EU Money Laundering Directive and other laws. Thus, for example, information and documents on the identity of companies, their legal representatives, and the nature of the business relationship must be stored and kept for at least five years (Section 8 GwG). In Germany, this process is monitored by BaFin, and non-compliance may be punished with sanctions.

However, register extracts can also serve as general company information, e.g., in company pension schemes.

fintract helps you to generate structured data from commercial register or transparency register extracts via OCR interface and to transfer them to your software. Manual data transfer is no longer necessary and saves valuable time for your core business.

How are register extracts digitized with fintract OCR?

Recognizing the text of individual pieces of corporate information is a simple matter for our time-tested OCR. This data includes:

  • Company name
  • Registered office
  • Object of the company
  • Share capital
  • Legal form
  • General representation regulation
  • Date of last registration

You don't just want to automate
your KYC process?

fintract OCR has already been used for many years in various business areas.
Therefore, we can guarantee fast integration, especially for the digitization of standard documents.

Invoices and receipts

Bank and credit card statements

Transfer forms

Identity documents

Extracts from the commercial register

Payment advices

Delivery notes