Frank Jons: chromatic explosions!
He could have ended up as a partner in an auditing firm, but a job interview convinced him to follow his true calling: painting. Interview.
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i-Hub: KYC mutualisation and regtech innovation
The goal of i-Hub is to assist its clients in managing KYC and customer due diligence processes through innovative and compliant solutions, according to sales and relationship manager Benoit Mayolini. He says i-Hub has become a trusted partner by providing genuine added value, through mutualisation and technology reinforced by human expertise, to meet the strictest compliance requirements.
What role does i-Hub play in the market?
A regtech firm with its roots in Luxembourg, regulated by the CSSF as a support financial services professional entity, i-Hub offers outsourced management of Know-Your-Client (KYC) and Customer Due Diligence (CDD) processes in compliance with the requirements of the legislation of November 12, 2004 on curbing money laundering and the financing of terrorism.As a trusted partner, i-Hub facilitates the collection and exchange of customer data and documents for its clients, enabling them to benefit from a secure data storage facility hosted in Luxembourg. Our innovative digital KYC Partner solution provides centralised verification based on review of client documentation.The POST Luxembourg Group, BGL BNP Paribas, Spuerkeess, Banque de Luxembourg and Banque Internationale aÌ€ Luxembourg are shareholders of i-Hub, having come together to launch a unique project for the country’s financial industry, the mutualisation of KYC checks - positioning i-Hub as a pioneer in this field across Europe in this domain.
How are the needs of your clients evolving, and how are you adapting ?
In recent years the KYC environment has undergone a significant transformation as a result of technological innovation and regulatory changes. This has had a major impact on methods used to verify identity, prevent fraud and improve the customer experience.These changes have also affected the requirements of our clients, prompting them to seek appropriate developments to boost operational efficiency and customer satisfaction. Optimisation of KYC and CDD combined
with the growth of customers’ direct digital interaction in banking transactions is one of the key areas of evolution.That’s why we have prioritised automation of simple and repetitive tasks, and stepped up the integration of technology, in particular generative artificial intelligence. On the human level, we provide training to our staff to improve service to clients, especially in terms of expertise, interpersonal relationships and use of digital tools.
“At i-Hub, we combine innovation and expertise in order to simplify KYC compliance”
What is i-Hub’s vision for the next five years?
For the future, i-Hub is focusing on intensifying its innovation journey to meet the evolving needs of the financial sector. We aim to further refine our KYC processes through increased digital and technological integration, to boost the precision and speed of automated client verification, making the compliance process even more efficient. However, i-Hub is committed to maintaining a balance between automation and human expertise to ensure the highest compliance standards.At the same time, i-Hub will strengthen its tools for sharing KYC data for legal entities, especially regarding non-public information, while optimising its digital portal to improve the efficiency of digital processes, in particular the management of multiple electronic signatures.These innovations aim to streamline compliance further and reinforce i-Hub’s position as a provider of cutting-edge solutions for financial institutions and other stakeholders in the European financial ecosystem.