Context
- Banco de Portugal (BdP) emitted a directive to enforce financial institutions to validate the ultimate beneficiaries of any company opening an account
- This mandatory validation is made on an online portal (RCBE – Registo Central de Beneficiário Efectivo) whose access is only possible through Chave Móvel Digital (CMD) – a personal signature available to all Portuguese citizens
- If there are discrepancies between what is in the portal and what the company reports to the Bank, the Bank is obliged to report them in another area of the online portal RCBE
Challenge
- The access restrictions (through CMD) make it hard to automate the validation for the Banks
- Most Banks pass that effort to the commercial network, adding to their BKO manual workload
BizAPIs Data Suite Platform – RCBE service:
With the RCBE BizAPIs service, client is able to:
- With just the fiscal ID (Número de Identificação de Pessoa Colectiva – NIPC) retrieve the structured information in the RCBE Portal, allowing for automatic validation
- Also retrieve for storage the proof of the validation (a print of the RCBE portal with the information)
Results
- The clients saving hundreds of hours of their commercial network, better spent in improving the business
- Guarantees the compliance with the regulator rules, saving the proof that the validation was done