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CDD On Demand; what's new

Reading time: 3 min.

New features:

Update July 2020

Thanks to continuous product improvement of the CDD On Demand solution, new features have again been added. As of now, person verification has been expanded to include the Central Register of Custodians and Administrators, geographic verification has been expanded, the Commercial Register is also consulted during company verification and UBO research, and the monitoring function now includes court records. In addition, a number of bugs from the previous version have been fixed. The new features are immediately available to all users.

Also curious how the CDD On Demand solution unburdens you? Request a demo account today and try it yourself. Better be safe than sorry!

 

Screen person - Central receivership and administration register.

When performing a Person check, in addition to the Central Insolvency Register, the Central Register of Curators and Administrators is now also consulted.

In the CCBR, a contracting party can check whether a person is under guardianship or receivership. The purpose of publication in the registry is to prevent unwanted agreements.

 

Screen person/company - Extension geography

The geographic risk classification has been expanded to include additional sources and a translation to a risk rating. The input for the geographic risk classification is one of the following:

  1. Search query: The country as entered during the search. This can be either a nationality or the country in which the person resides. If there are multiple countries, the experience is that nationality is more often known by the compliance sources.
  2. Nationality: Nationality as known with the compliance sources.
  3. Addresses: Addresses as known with the compliance sources.

 

Risk classification

The outcomes of the countries involved in the various geography sources are translated into a risk per country. The risk classification per source is determined using limit values, with the highest risk always leading.

These limits were set by SCOPE FinTech Solutions based on opinions and guidelines from various agencies. The limits are shown on the reports for transparency.

Source: CPI

CPI is the most widely used indicator of corruption worldwide. The CPI scores and ranks countries/territories based on how corrupt a country's public sector is. It is an index based on a combination of 13 surveys and assessments of corruption collected by a variety of reputable institutions.

Source: EU-countries sanctions

The EU Sanctions Map provides information on sanctions approved by EU member states and adopted by the EU Council. It also covers sanctions regimes imposed by the United Nations Security Council and implemented by the EU Council.

 

Company audit & UBO investigation - Consult commercial register

To make screening of companies easier and more effective, the Chamber of Commerce trade register is consulted during input. For foreign companies, manual searches can be made based on the company name, country, zip code, street name and number, and city.

Monitoring: including case law registries

When persons are added to the monitoring list, they are also automatically checked on a daily basis with the Central Insolvency Register and the Central Register of Curators and Administrators. This check is optional and while adding to the monitoring list you can check if you want to use this.

 

API

All extensions also apply to the API. In addition, the Chamber of Commerce API has been added to the SCOPE CDD API.

 

Consult CoC Trade Register

CoC API Search

KVK API Search allows you to search for one or more companies using a number of search criteria (such as KVK number, establishment number, RSIN, trade name, and address). The result is a list, with which you can retrieve basic data from the Trade Register.

CoC API Profile

KVK API Profile allows you to search for a company (with search criteria, such as KVK number, establishment number, and RSIN). The result is an extensive set of data about this company. This can be used, for example, to (supplement) a company profile.

 

Insight into consumption API customers

Consumption is tracked by API endpoint plus any add-ons (geography, insolvency register, receivership/administration register).

API customers can also query consumption themselves using the API. Two API endpoints have been added for this purpose.

Usage: Allows customers to query consumption and make their own selections and sortings.

Usage grouped: this allows buyers to use an overview already sorted by month and module (search API, monitor API, CoC API).

 

Various bug fixes and improvements

  • Improvements when searching for persons with multiple first names;
  • Chamber of Commerce search results expanded, deregistered companies are now shown (incl. warning);
  • Batch import module improved: less prone to incorrect entries.

Are you missing any features or have improvement suggestions? Please let us know via our contact form.