01
We start not with a list of banks, but with a payment task
We record who receives and sends money, in what currencies, between what countries, for what goods or services, and with what frequency. Then we compare this with the legal structure, tax model, licenses, sanctions perimeter and requirements of a particular institution.
- Applicant
- Company, operating business, holding, fund, trust or individual
- Purpose
- Transaction payments, treasury, custody, investment or safeguarding
- Geography
- Countries of registration, management, clients, suppliers and UBO
- Flows
- Currencies, amounts, frequency, purposes and payment documents
- Products
- Current account, cards, acquiring, FX, trade finance or investments
02
The name of a well-known bank does not mean readiness to accept a client
Shortlist is built according to the institution's license, customer segment, geography, industry, products, currencies, remote onboarding and risk appetite as of the date of submission. For each option, we record the strengths and weaknesses, the order of consideration, the cost and the alternate route.
Wide network and products, but more strict segment and onboarding.
Strong local infrastructure and requirements for communication with the country.
Fast interface, but eligibility, limits and products may be narrower.
Payments and FX without a full range of banking products and deposit guarantees.
03
The KYC dossier should tell the same story
The questionnaire, website, contracts, financial statements, corporate documents and oral answers should not contradict each other. We prepare ownership chart to physical UBO, business memo, source of wealth and funds, expected flows and confirmation of each material fact.
- 01Corporate
Certificates, constitutional documents, registers, resolutions and powers.
- 02Ownership
Chain of ownership, controllers, benefits and tax residences.
- 03Business
Website, contracts, invoices, team, premises, licenses and counterparties.
- 04Money
Source of wealth, source of funds and banking trace of the origin of capital.
04
Foundation and trust require separate ownership and control file
The bank studies deed or charter, by-laws, settlor/founder, trustee/council, protector/guardian, blessing, signatories and distribution policy. For an investment account, an investment mandate, risk profile and confirmation of the origin of each transferred asset are added.
The structure may not be completely public, but the bank and the competent authorities receive information about control and beneficiaries to the extent of the applicable rules.
05
EMI and PSP are a separate product, not a “simpler bank”
We check the license and the exact legal entity, safeguarding of client funds, available currencies and countries, named account or virtual IBAN, payment rails, limits, prohibited activities and closure procedure. If a business needs a loan, trade finance, custody or cash services, a payment account can only be part of the solution.
06
Correspondent account - institutional verification of the bank
An expanded package is being prepared for banks and regulated financial organizations: license and supervision, ownership, governance, AML/CFT framework, customer base, geography, sanctions controls, transaction monitoring, audit, capital, expected products and flows. The correspondent evaluates not only the documents, but also the effectiveness of the control system.
- Respondent
- License, supervisor, ownership, management and financial stability
- AML/CFT
- Risk, CDD/EDD, monitoring, sanctions and reporting
- Customers
- Segments, industries, countries and share of high-risk relationships
- Products
- Clearing, FX, trade finance, securities or third-party payments
- Controls
- Internal audit, compliance resources, testing and remediation
- Messaging
- SWIFT, LEI, payment transparency and record keeping
07
After opening, the profile operation begins
The first payments must correspond to the declared model. We are preparing supporting documents, rules for assigning payments, escalation for unusual transactions and a KYC update calendar. If there is a change in ownership, director, country, product or turnover, the bank is informed before any contradictions arise.
- 01
Agree on signatories, two-factor access, roles and limits.
- 02
Prepare documents for standard incoming and outgoing payments.
- 03
Do not mix personal, operational, client and investment funds.
- 04
Update KYC when business, ownership or tax status changes.
- 05
Maintain a backup payment route without fictitious transactions.