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I have received an email saying that my customer due diligence information needs to be updated. What does that mean?

Compliance is a central part of an organization’s integrity and responsibility. It is about fulfilling the laws, regulations, and standards that govern companies and organizations.

To ensure that all transactions are safe and transparent, there is an important concept within the financial world: KYC (Know Your Customer), or customer due diligence.

Customer due diligence consists of checking and verifying an individual’s identity, and it is something that SaveLend, as a financial institution, is required to do in order to accept a person as a customer.

Your customer due diligence information also needs to be updated on a regular basis.

Have you received an email saying “Your customer due diligence information needs to be updated”?

If you have received such an email, it means that the validity of the KYC information you last provided will expire in 30 days. Therefore, it must be updated even if your customer due diligence information is currently marked as “Submitted.”

It is important that you update your KYC as soon as possible. Our interest robot will continue to manage your savings in accordance with your strategy, but you will not be able to make any deposits or withdrawals until your KYC has been updated.

To update your customer due diligence information, do the following:

  1. Log in to your account.

  2. Click on “More” in the top right corner.

  3. Click on “Customer Information (KYC).”

  1. Fill in your details and then click “Submit KYC.”