Solutions
Regulated industries
Ressources
THE LEGISLATION
LEgal basis
§2, 9 AMLA
Supervisory authority
BaFin pursuant to section 17 (1) of the German Investment Code and section 1 (17) and (18) of the German Capital Investment Code
They are obligated, provided that they...
Capital management companies pursuant to Section 17 (1) of the German Investment Code, branches of EU management companies and foreign AIF management companies located in Germany, as well as foreign AIF management companies for which the Federal Republic of Germany is the reference member state and which are subject to supervision by the Federal Financial Supervisory Authority pursuant to Section 57 (1) sentence 3 of the German Investment Code,
Dimension #1
From web registration to KYC/KYB with identification of beneficial owners, risk assessment and analysis to verification and mandate signing.
Dimension #2
Collaboration and housekeeping with clients, buyers, investors, investments, traders, customers via tasks and to dos, smart templates and documents, entity management and reports and audits
END-To-END Onboarding
Use case 1
Flexibly perform client, merchant, customer, investor or buyer KYC for legal entities or natural persons and document it in an audit-proof manner
Use Case 2
Classify risk of clients, customers, dealers, investors, investments or buyers along different risk categories and perform AML checks.
Use case 3
An intuitive and customizable dashboard ensures that all important parameters are always in view and enables information to be provided at any time.
Use Case 4
By combining appropriate anolog or digital methods for identity verification and contract signing, BetterCo enables the mapping of a wide range of process requirements.
Our servers are secured and located in Germany. We comply with the European Data Protection Regulation of 2016(DSGVO).
All information and data on our servers is transmitted to our servers encrypted using the TLS protocol so that no one can intercept it.
All information and data is stored on our servers in encrypted form using the RSA and AES protocols so that no one can read it without authorization.
We store all data and documents in an audit-proof and GoBD1)-compliant manner for complete traceability.
Our system architecture follows the "multi-tenancy by design" approach, which makes it much easier to implement the state of the art for all customers.
With our development and release processes we follow the OWASP (Open Web Application Security Project) recommendations including code security reviews.
Ressources
With our practical Health Check infographic, you can assess the status of your own AML compliance. You gain a "maturity level" overview and already receive initial solution approaches for optimization.
Use our Health-Check Questionnaire to answer about 30 questions. We will then summarize the results of your answers individually in a report, which you will receive free of charge.
We are happy to provide you with certified partners for a company-specific risk analysis. We analyze your situation individually and you receive valuable recommendations for action.
Collaboration & Housekeeping
Use case 1
Manage contacts of the company as business or people contacts. Manage contacts' relationships to the company with 160+ relationship types to keep everything in view.
Use case 2
Notifications inform about critical change in shareholder structure, important events in contract management, new management at clients and more.
Use case 3
Easily manage the entire lifecycle of documents and contracts - including version control, annotations, revisions, electronic signatures, and sharing.
Use case 4
Instant messaging with commenting is streamlined and direct in solving challenges together and sharing info quickly.
ROI Calculator
from FONDS
Pursuant to Section 7 (1) AMLA, capital management companies are now directly obliged under the AMLA to appoint a money laundering officer at management level and a deputy. The obligation to appoint an anti-money laundering officer now also applies in principle to the registered KVG.
BetterCo supports the AMLA compliant onboarding and monitoring of its clients, investors, buyers, traders, participations, customers, ..... KYC onboarding includes the identification (= data determination) of your clients - whether as natural or legal persons (B2C/B2B-KYC) - as well as, if applicable, the identification of the beneficial owners and their authorized representatives. For this purpose, we access public data sources to pre-fill data as far as possible. On the basis of the data obtained, you can draw up the risk analysis and derive due diligence obligations. To verify the identity of customers, beneficial owners, and authorized representatives after identification, we offer appropriate methods - from Face-2-Face verification to Qualified Electronic Signature with VideoIdent. Of course, you can bring your own DocuSign account with you for this purpose.
BetterCo seamlessly integrates with your website. The data is stored directly in your BetterCo Workspace and can be further qualified along the kyc-compliant onboarding, risk analysis and identity verification. If required, the customer can be invited to collaborate in BetterCo at any time and add or confirm information as necessary.
Our approach of generating no-code workflows and being able to dynamically store extended master or process data allows all processes to be customized to your needs. By default, each workflow generates a PDF-based report at the end. This can serve as a "bridge" to email and paper based processes. On the other hand, you can easily create workflows where you save your PDF reports. In this way, you can approach a step-by-step digitization of the existing Customer Journey.
BetterCo is an end-to-end system - supporting all onboarding processes from integration into their website to contract signing. However, BetterCo's architecture is designed to integrate with existing system landscapes. Together with our partners, we are constantly expanding our "out-of-the-box" integrations e.g. into law firm systems like LegalSense or CRMs like Hubspot. Please contact us.
BetterCo offers the options to regularly check all company and contact data of its customers against public data sources such as the commercial register or PEP, Sanction or Adverse Media data. Dedicated notifications can be set up to inform you, for example, about the appointment of new directors, changes in the shareholder structure or a PEP entry.
