Keldan KYC

1. Start survey

The first step is to select the legal entity or entities to run due diligence on and press “Start survey”. The action triggers automatic data collection and searches in which the system, among other things:

• Fetches the current registration from the Register of Enterprises, including information on beneficial owners.
• Displays, based on the registration, the individuals who hold roles within the legal entity. Holders of power of procuration, beneficial owners and the contact (if not among the aforementioned) are singled out for further processing.
• Looks the individuals up and shows citizenship and country of residence, and compares this data against a database of high-risk and non-cooperative jurisdictions.
• Compares them against Keldan's PEP list of politically exposed persons.
• Searches against international sanctions lists, foreign PEP databases and adverse media.

2. Register contact

The next step is to register a contact, who must have legal authority to act on behalf of the legal entity. The contact selection automatically offers those who hold such authority according to the current registration that was fetched. An email address must also be registered. Once a contact has been registered, the due diligence survey is activated on kyc.keldan.is, and is available to that person on electronic login. It is then optional to send a request to other holders of power of procuration, who log in with an electronic ID and verify their identity.

Foreign parties / no electronic ID:
If the legal entity's contact is foreign or a party without an electronic ID, you can select “Other” and tick “Foreign party / no electronic ID”.

3. Send survey

The third step is to send the survey to the legal entity's registered contact. An email is sent out in the name of the obliged entity with a link to the survey. The contact logs in with an electronic ID and answers the questionnaire. This action can be repeated, in which case it works as a reminder or a follow-up. One and the same survey awaits the person in the system no matter how many times the survey is sent.

The contact receives an email in the name of the obliged entity, sent from noreply@keldan.is. Note that a dedicated “subdomain” address can be requested and linked to the user's account. The email contains a link to kyc.keldan.is where the contact logs in with an electronic ID and answers the due diligence survey.

Foreign parties / no electronic ID:

• An email in both Icelandic and English contains a link to a questionnaire that stays active for two weeks.
• The survey can be resent to reactivate the link.
• The questionnaire is available in Icelandic and English.
• A copy of identity documents is uploaded together with the answers.

4. Risk assessment registered

The fourth step is to register the risk assessment manually or automatically with a colour code, together with comments or a statement once all data is available, for one customer or several at a time. Please note that the automatic risk assessment is only a suggestion, so it is important to review the results of the due diligence carefully. To run the automatic risk assessment, tick the legal entities that have answered the survey and select automatic risk assessment. The risk assessment can always be updated manually. The system records who last updated the risk assessment and when.

Up to 10 documents can be uploaded with the result of the survey. If enhanced due diligence is required, additional data and information gathered about the customer can be uploaded to the due diligence in question.

1. Start survey

The first step is to select the individual or individuals to run due diligence on and press “Start survey”. The system then performs automatic lookups:

• Looks up citizenship and country of residence, and compares them against a database of high-risk and non-cooperative jurisdictions.
• Looks the person up in Keldan's PEP list of politically exposed persons.
• Searches against international sanctions lists, foreign PEP databases and adverse media.

2. Send survey

The second step is to send the due diligence survey. An email is sent out in the name of the obliged entity with a link to the survey. The individual logs in with an electronic ID and answers the questionnaire. This action can be repeated, in which case it works as a reminder or a follow-up. One and the same survey awaits the person in the system no matter how many times the survey is sent.

The customer receives an email in the name of the obliged entity, sent from noreply@keldan.is. Note that a dedicated “subdomain” address can be requested and linked to the user's account. The email contains a link to kyc.keldan.is where the contact logs in with an electronic ID and answers the due diligence survey.

Foreign parties / no electronic ID:

• An email in both Icelandic and English contains a link to a questionnaire that stays active for two weeks.
• The survey can be resent to reactivate the link.
• The questionnaire is available in Icelandic and English.
• A copy of identity documents is uploaded together with the answers.

3. Risk assessment registered

The third step is to register the risk assessment manually or automatically with a colour code, together with comments or a statement once all data is available, for one customer or several at a time. Please note that the automatic risk assessment is only a suggestion, so it is important to review the results of the due diligence carefully. To run the automatic risk assessment, tick the customers that have answered the survey and select automatic risk assessment. The risk assessment can always be updated manually. The system records who last updated the risk assessment and when.

Up to 10 documents can be uploaded with the result of the survey. If enhanced due diligence is required, additional data and information gathered about the customer can be uploaded to the due diligence in question.