Open Banking for KYC and AML

Hanke lühikirjeldus

Procurement of Open Banking for KYC (Know Your Customer) and AML (Anti-Money Laundering). With this Open Banking solution procurement Veikkaus aims to enhance its Anti-Money Laundering (AML) processes of verifying the origin of customer funds and ownership of bank account. Open banking is a banking practice that provides third-party financial service providers with open access to consumer banking, transaction, and other financial data from banks through application programming interfaces (APIs).

The offered solution contains the full implementation of a Open Banking for KYC & AML solution delivered as a Software as a Service (SaaS), covering at least the following:

• Necessary licenses

• Software

• Relevant integrations

• Testing environments

• Implementation

• Support and maintenance services

• Training.

The scope and goals of the Open Banking procurement include the related KYC and AML features and functionalities; Veikkaus specific customizations, integrations, and adaptations; data integrations, exports, transfers, modifications, and imports from existing Veikkaus systems; other services related to the project, as detailed in the procurement documents, that ensure that the Veikkaus can use and operate the offered solution.

Veikkaus is subject to Act on Preventing Money Laundering and Terrorist Financing (444/2017) as organizing gambling is a financial activity that can be exploited for criminal purposes, including money laundering.