USE CASE

AML-compliant Customer Onboarding

From self-declaration to qualified electronic signatures, rely on our seamless onboarding solution for new customers. 100% digital and AML-compliant.

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REGULATIONS AMLA-compliant customer onboarding as the basis for your contract conclusion

The Money Laundering Act (GwG) requires financial intermediaries to clearly identify all contractual partners, and to comply with relevant documentation and retention requirements. Enforcement is the responsibility of the relevant national regulatory authority: FINMA in Switzerland, BaFin in Germany and the FMA in Austria.

Additionally, the Markets in Crypto Assets Regulation (MiCA) stipulates that crypto service providers across Europe must use identification procedures that align with the GwG's requirements. Digital onboarding must always be legally compliant, traceable and verifiable.

Compliance with the relevant national regulatory requirements is of central importance for financial intermediaries and is ensured by AML-compliant customer onboarding. In addition to efficient AML checks, a legally binding electronic signature is often required when concluding a contract, opening an account or granting a loan, for example.

THE CHALLENGE Challenges in AML-compliant customer onboarding

Before introducing digital, AML-compliant customer onboarding to your company, you first need to familiarise yourself with the identification methods you are permitted to use. It is also important to consider how user-friendly and efficient the chosen method is.

What identification methods are there?

The procedure permitted for AML-compliant customer onboarding varies greatly from country to country. However, auto-identification alone is never sufficient.

While a customer's address must be collected in all three countries, it is only mandatory to verify it in Switzerland. Address verification is not required if a QES is created.

In Germany and Austria, additional address verification is only required for high-risk cases or business relationships (due diligence obligations in accordance with Section 15 GwG).

Procedure

Germany (§ 11 + § 12 GwG, BaFin- circular)

Austria (§6 FM-GwG, FMA-circular)

Switzerland (Art 3 GwG, circular FINMA-RS 2016/7)

MiCA (Regulation 2023/1114 of the EU parliament a. council)

Auto-Ident (PXL Ident)

Not permitted alone

Permitted in combination with address validation + first transaction (or NFC)

Permitted in combination with address validation + first transaction (or NFC); combination dependent on investment requirements

NFC Ident

Only in combination with eID

Permitted (with address in Switzerland)

Permitted in combination with address validation + initial transaction; combination dependent on investment requirements

QES (PXL Sign)

Permitted in combination with initial transaction

Permitted

Video-Ident

Permitted with qualified staff

On site with ID

Permitted

Procedure

Germany (§ 11 + § 12 GwG, BaFin- circular)

Austria (§6 FM-GwG, FMA-circular)

Switzerland (Art 3 GwG, circular FINMA-RS 2016/7)

MiCA (Regulation 2023/1114 of the EU parliament a. council)

Auto-Ident (PXL Ident)

Not permitted alone

Permitted in combination with address validation + first transaction (or NFC)

Permitted in combination with address validation + first transaction (or NFC); combination dependent on investment requirements

NFC Ident

Only in combination with eID

Permitted (with address in Switzerland)

Permitted in combination with address validation + initial transaction; combination dependent on investment requirements

QES (PXL Sign)

Permitted in combination with initial transaction

Permitted

Video-Ident

Permitted with qualified staff

On site with ID

Permitted

Procedure

Germany (§ 11 + § 12 GwG, BaFin- circular)

Austria (§6 FM-GwG, FMA-circular)

Switzerland (Art 3 GwG, circular FINMA-RS 2016/7)

MiCA (Regulation 2023/1114 of the EU parliament a. council)

Auto-Ident (PXL Ident)

Not permitted alone

Permitted in combination with address validation + first transaction (or NFC)

Permitted in combination with address validation + first transaction (or NFC); combination dependent on investment requirements

NFC Ident

Only in combination with eID

Permitted (with address in Switzerland)

Permitted in combination with address validation + initial transaction; combination dependent on investment requirements

QES (PXL Sign)

Permitted in combination with initial transaction

Permitted

Video-Ident

Permitted with qualified staff

On site with ID

Permitted

Procedure

Germany (§ 11 + § 12 GwG, BaFin- circular)

Austria (§6 FM-GwG, FMA-circular)

Switzerland (Art 3 GwG, circular FINMA-RS 2016/7)

MiCA (Regulation 2023/1114 of the EU parliament a. council)

Auto-Ident (PXL Ident)

Not permitted alone

Permitted in combination with address validation + first transaction (or NFC)

Permitted in combination with address validation + first transaction (or NFC); combination dependent on investment requirements

NFC Ident

Only in combination with eID

Permitted (with address in Switzerland)

Permitted in combination with address validation + initial transaction; combination dependent on investment requirements

QES (PXL Sign)

Permitted in combination with initial transaction

Permitted

Video-Ident

Permitted with qualified staff

On site with ID

Permitted

Procedure

Germany (§ 11 + § 12 GwG, BaFin- circular)

Austria (§6 FM-GwG, FMA-circular)

Switzerland (Art 3 GwG, circular FINMA-RS 2016/7)

MiCA (Regulation 2023/1114 of the EU parliament a. council)

Auto-Ident (PXL Ident)

Not permitted alone

Permitted in combination with address validation + first transaction (or NFC)

Permitted in combination with address validation + first transaction (or NFC); combination dependent on investment requirements

NFC Ident

Only in combination with eID

Permitted (with address in Switzerland)

Permitted in combination with address validation + initial transaction; combination dependent on investment requirements

QES (PXL Sign)

Permitted in combination with initial transaction

Permitted

Video-Ident

Permitted with qualified staff

On site with ID

Permitted

How efficient is the identification process?

Efficient customer onboarding is characterised by speed, simplicity and security. User-friendly solutions that eliminate media discontinuity increase conversion rates, reduce abandonment rates, and ensure a positive user experience for your customers.

To increase your conversion rate and turn prospects into loyal customers, you need AML-compliant customer onboarding that is intuitive and easy to navigate.

SOLUTION AML-compliant customer onboarding with PXL Sign

Banks and financial service providers are obligated to carry out legitimacy checks for any natural or legal entity within the framework of compliance regulations and regulatory requirements (GDPR, PSD2, BCBS 239 and 5th EU Anti-Money Laundering Directive).

Failure to comply with identity verification can result in customers committing (chargeback) fraud and money laundering. In addition, ignoring money laundering,KYC (Know Your Customer)and AML (Anti-Money Laundering) guidelines is a serious violation of legal requirements.

The only way to protect yourself against financial damage and legal consequences, while still maintaining the trust of your customers, is to comply with these regulations and carefully check all potential clients.

End-to-end digitisation: Completely web-based and without video calls or interaction with an agent
AMLA-compliant and legally secure: Meets regulatory requirements in Switzerland
Seamless and user-friendly: No app download, no hurdles – simply start via a link
Quickly integrated and scalable: Ideal for high-volume processes with a B2C focus

What Use Cases is PXL Sign suitable for?

Our solution is suitable for both PoS and remote onboarding and is used in the following areas:

Digital account opening with signature
Concluding insurance contracts
AML-compliant onboarding in the financial sector (mortgage contracts or credit card applications)
Credit and leasing applications with direct declaration of intent
Customer registration on digital platforms with signature requirement

Digital efficiency meets regulatory security

PXL Sign guarantees QES-level identity verification in accordance with ZertES. This enables you to create a seamless and efficient onboarding process that complies with all relevant legal requirements, including KYC/AML identity verification and electronic signatures. This makes your digital onboarding process customer-friendly, future-proof and legally compliant.

Contact us to find out how easy it is to onboard customers in compliance with the Anti-Money Laundering Act using PXL Vision.

FAQs

What does ‘AML-compliant’ onboarding mean in practice?

AML-compliant onboarding ensures that a customer's identity is established clearly and verifiably in accordance with the Money Laundering Act requirements, for example through suitable identification procedures. This is particularly important in regulated industries such as finance, insurance, and real estate.

Is simple identification sufficient for legally compliant onboarding in accordance with the AML?

Not always. In many cases, such as when concluding contracts or opening accounts, a legally valid declaration of intent is required in addition to identification. This can only be done completely digitally and in a legally binding manner with a qualified electronic signature (QES).

What role does the qualified electronic signature (QES) play?

The QES is the digital equivalent of a handwritten signature; it has the same legal status and is particularly secure. In AML-compliant onboarding, it serves to confirm that the customer consciously agrees to a transaction or contract.

For which companies is AML-compliant onboarding particularly relevant?

Especially for banks, fintech companies, insurance companies, leasing companies, property management companies and telecommunications providers, i.e. anywhere where risky transactions, contracts or legal due diligence obligations are involved.

How does AML-compliant customer onboarding work?

The process begins with the clear identification of the customer, for example via AutoIdent in combination with eID, NFC or VideoIdent. Depending on the application, a qualified electronic signature (QES) is also used. This ensures that the onboarding process is not only AML-compliant, but also legally binding and auditable.

What are the advantages of digital onboarding in accordance with AML standards?

Companies benefit from a seamless, fast and user-friendly process. Digital AML-compliant onboarding solutions reduce dropout rates, increase conversion rates and meet all regulatory requirements at the same time – a clear competitive advantage.

AML-compliant Customer Onboarding

REGULATIONS AMLA-compliant customer onboarding as the basis for your contract conclusion

THE CHALLENGE Challenges in AML-compliant customer onboarding

What identification methods are there?

How efficient is the identification process?

SOLUTION AML-compliant customer onboarding with PXL Sign

What Use Cases is PXL Sign suitable for?

Digital efficiency meets regulatory security

FAQs

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Customer onboarding for insurance companies

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KYC use case: understanding & benefits

One solution for many use cases: Increase your conversion rate and reduce your costs with a KYC process that works seamlessly and complies with legal requirements.

Are you looking for an efficient identification solution for your customer onboarding?

PXL Vision

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AML-compliant Customer Onboarding

REGULATIONS AMLA-compliant customer onboarding as the basis for your contract conclusion

THE CHALLENGE Challenges in AML-compliant customer onboarding

What identification methods are there?

How efficient is the identification process?

SOLUTION AML-compliant customer onboarding with PXL Sign

What Use Cases is PXL Sign suitable for?

Digital efficiency meets regulatory security

FAQs

READ MORE Customer onboarding in various industries

Customer onboarding in the online gambling sector With our fully automated, GlüStV-compliant online gambling verification, you can check and verify the eligibility and age of your players in less than 30 seconds.

Customer onboarding for insurance companies Simple and fast customer verification in the insurance industry. With the solution from PXL Vision, insurance companies increase the conversions of their online customer portal onboarding.

KYC use case: understanding & benefits One solution for many use cases: Increase your conversion rate and reduce your costs with a KYC process that works seamlessly and complies with legal requirements.

Are you looking for an efficient identification solution for your customer onboarding?

Customer onboarding in the online gambling sector

With our fully automated, GlüStV-compliant online gambling verification, you can check and verify the eligibility and age of your players in less than 30 seconds.

Customer onboarding for insurance companies

Simple and fast customer verification in the insurance industry. With the solution from PXL Vision, insurance companies increase the conversions of their online customer portal onboarding.

KYC use case: understanding & benefits

One solution for many use cases: Increase your conversion rate and reduce your costs with a KYC process that works seamlessly and complies with legal requirements.