How Is My Data Protected During the Kovena Onboarding Process?

At Kovena, we know how essential completing identity and business verification is. Sharing such sensitive information requires trust. With that at the forefront of our onboarding processes we treat your data security and privacy as our highest priority. Once you submit your details, the information is protected by industry-standard encryption and strict regulatory compliance. We do our best to ensure that both your business and peace of mind are protected every step of the way.

• Regulatory alignment. Our AML/KYC processes follow AUSTRAC guidelines, and we operate to the compliance standards required by our card acquirers and the card schemes (Visa, Mastercard).
• Vetted and trained staff. Everyone running verifications is reference-checked, police-checked, and PEP/sanctions-screened before they start. They're trained on AML/CTF policies and processes when they join, and re-trained every six months.
• Trusted verification tools. We use established, compliance-grade platforms for identity and document verification. These providers are themselves regulated and audited.
• Data retention. Application documents and any imaged ID or biometric information are retained only for as long as required for verification, then deleted after 30 days.
• Access controls. Customer information is only accessible to staff who need it for their role, with appropriate system-level controls in place.

These rigorous safeguards are embedded directly into our onboaridng workflow, we ensure your compliance checks are completed swifty and safety is never compromised. After your account is verified, we securely delete your sensitive data in line with strict retention standards, leaving you free to focus on your business.