Non-compliant business owners will now be able to use First National Bank's (FNB's) KYC Doc Uploader to upload outstanding Financial Intelligence Centre Act (FICA) documents online.
In a statement, the bank says business owners that are not yet compliant will get a message prompting them to update their FICA documents when logging into their FNB online banking profile.
As soon as a non-compliant client logs into their online banking, they can either take action immediately and complete their FICA process digitally, or opt to postpone. If a client postpones, they will continue getting a FICA messages every time they log in.
Once all the outstanding documents have been uploaded, their information and FICA status will be verified within two working days, according to the statement.
Marcel Klaassen, head of sales at FNB Business, says KYC Doc Uploader is not only a proactive and efficient way of driving the FICA message, but also simplifies the process.
He says: "Our strategy entails listening and always putting our customers first. We've come a long way in better understanding the challenges they encounter on a daily basis. This places us in a good position to develop innovative banking solutions that give them peace of mind, helping them to focus on their core businesses.
"KYC Doc Uploader has now broadened communications channels around FICA by enabling us to effectively use our online banking platform to notify clients about compliance."
Klaassen has urged non-compliant businesses to take advantage of this solution and submit all outstanding documentation and information to the bank as soon as possible.
Customers using KYC Doc Uploader will be guided through the process and will be able to upload their documents in a number of different formats, he says.
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