As part of ongoing efforts to continuously optimise its operational efficiency, BGL BNP Paribas is exploring new digital and innovative solutions to better serve its customers and enhance its AML/KYC (Anti Money Laundering/Know Your Customer) tools. The partnership with i-Hub allows the bank to offer its customers a solution for the management and digital storage of their data and identification documents they are required to provide in the context of their relations with players in the financial sector.

As a Professional of the Financial Sector (PSF), i-Hub meets strict data protection and AML/KYC requirements. i-Hub has notably acquired cutting-edge and highly secure technology exclusively located in Luxembourg within resilient infrastructures. By signing a partnership with BGL BNP Paribas, i-Hub is continuing its momentum by offering an innovative outsourced KYC solution, the “KYC Partner”. In meeting a genuine need among financial institutions, i-Hub aims to become an essential, trusted partner in terms of AML/KYC regulations in the near future.

The proposed shared solution will ultimately provide each customer (natural or legal person) with free access to a “Centralized KYC Repository”, allowing them to:

• file, consult, update or upload their documents or identification data remotely at any time,
• benefit from automatic updates of public information relating to legal entities published on trade registers’ websites worldwide, as well as registers of beneficial owners, thus avoiding having to communicate them to their financial institutions,
• share their file and update information and documents simultaneously with all of their financial institutions.

“Having launched i-Hub in 2019 and initially integrated POST Finance customers into our systems, this partnership with BGL BNP Paribas reaffirms the growing interest towards our KYC outsourcing and pooling solution. These processes are becoming increasingly expensive and time-consuming for financial institutions to maintain,” said Pascal MOROSINI, CEO of i-Hub.

Fabrice CUCCHI, Chief Transformation Officer at BGL BNP Paribas, explained: "Improving the client experience within a highly secure environment and strengthening the operational efficiency of our KYC systems are key priorities for the bank. We believe that the Luxembourg financial centre needs a high-level pooled system, which would benefit all parties. We are delighted to join i-Hub and Post Group in this innovative initiative."