What is the xChange Vetting/Background Check process?

Updated September 17, 2024 08:32

Christian Roeloffs

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All members joining xChange are subject to a background check process, during which the vetting team verifies company details. The xChange vetting process begins with a review of the company’s business registration certificate, which all customers must provide. This document confirms that your company is registered with the relevant authorities and is typically the official document received upon registration.
During the vetting process, xChange examines various aspects of the company, such as its delinquency status with other companies, compliance matches for the company and its beneficial owners, and associations with other companies already on xChange.
In some cases, the vetting team may request additional information or documents, such as the ID of the beneficial owners, clarification or documented proof of any inconsistencies encountered during the process, and third-party references. Signees who refuse to provide the required information/documents will not be granted access to our platform.
Additionally, xChange continuously monitors all members, as the activities of companies and individuals may improve or deteriorate over time. During your membership, the xChange vetting team may request additional information/documents. Accounts of customers who refuse to provide the required information/documents may be deactivated temporarily or permanently.