Frequently-asked questions

 

Here are some quick answers to a selection of questions we often hear. We've divided them into banking and user company questions, but you're welcome to browse both to get a better understanding of how things fit together.

If you don't see the answers you want here, feel free to contact us.

 

Banking Questions

Does biz.Clarency interface with my ERP system?

We provide a range of robust APIs to many banking systems. Where an off-the-shelf connection isn't available, the system architecture allows our developers to rapidly deploy a custom connection, usually within a few days.

Do you store information in a widely compatible format?

Our enhanced blockchain adheres to the industry-recommended ISO 200020 XML format for maximum compatibility. Custom translation and mapping can be provided for interfacing with legacy systems.

Can information be shared between banks?

Information sharing between authorised institutions is a baked-in feature of biz.Clarency. This greatly reduces the need for duplication of effort and improves transparency across the financial partners in transactions. GDPR compliance is maintained by a system of explicit permissions (see below).

Is biz.Clarency GDPR-compliant?

All information, personal and corporate, is held in encrypted format and protected against unauthorised access by enterprise-level security. While the system allows information sharing to support transparency and reduce duplication of effort, no information is shared without the explicit permission of its subject. The subject's right to be forgotten is also honoured, within the regulatory requirement regarding the maintenance of records for examination by enforcement agencies.

 

User Company Questions

Can I decide what information to reveal?

Absolutely. There are two basic levels: the information you want to reveal to any website visitor, and the information you'll allow to specific enquirers. In the latter case, you'll receive an alert, and you can then choose exactly what information to show to that enquirer. Enquirers are automatically bound by a confidentiality and non-disclosure agreement.

Can I remove my information?

We adhere strictly to GDPR requirements, including your right to be forgotten. All information will be removed at your request (Subject to regulatory requirements - see our privacy policy.).

My bank uses biz.Clarency for onboarding. Will I be charged?

Banks have their own charging structures, so this is really a question for your bank. The bank incurs costs in onboarding new customers, whether or not it uses biz.Clarency (though these will be significantly reduced if it does). How those costs are passed on to you, its customer, will be part of your agreement.

 

CLARENCY SINGAPORE PTE. LTD.

Guoco Tower
1 Wallich Street #14-01
078881 Singapore

+65 6403 3956