Know Your Customer (KYC)

On the basis of its statutory obligations and role in Finnish society, Finnvera must know its customers and ask them questions about their customer information. We will ask you these questions when you apply for funding and regularly throughout our customer relationship.

Finnvera must have sufficient information on the nature and scope of its customers’ operations, their financial position, and grounds for using Finnvera’s services. This information must be kept up to date throughout the customer relationship and stored appropriately. 

Money laundering and terrorist financing cause serious harm to the economy and society, which is why Finnvera is committed to ensuring that it does not play a role in the obfuscation and laundering of funds acquired through criminal means. 

We regularly ask our customers to check and – when necessary – update their customer and service-related information, to ensure that they are accurate and up to date. It is important that your customer information remains accurate and up to date so that we can ensure an optimal level of service for your needs.

Depending on our customers’ communication preferences, we can inform them about the need for checking their information by email, text message, or letter. If you have received a request from us about updating your customer information, please do so at the earliest possible moment. 

You can securely supplement your customer information by using our online service and following the instructions you have received. You can verify the website’s security and SSL encryption by clicking on the lock icon in your browser's address or status bar. 

We will process all of the information you provide confidentially.

Finnvera must have sufficient information on, for example, our corporate customers’ ownership, the nature and scope of their business operations, their financial position, and their purpose for using Finnvera’s financing. For example, we may ask about your company’s ownership structure or possible business operations abroad.

According to its legal obligations, Finnvera must obtain information on the owners and actual beneficiaries of its corporate customers. The term “actual beneficiary” refers not only to those with ownership, but also to individuals who have control over the voting rights attached to shares or otherwise exercise control over the company. Finnvera must also know whether the actual beneficiary of its client company is a politically exposed person or the family member or close partner of such a person.