Transparency

• the ownership of a shareholding of more than 25% of the company's capital, held by a natural person, constitutes an indication of direct ownership;

• the ownership of a shareholding of more than 25% of the company's capital, held through subsidiaries, trust companies or third parties, constitutes an indication of indirect ownership.

In cases where examination of the ownership structure does not permit identification of the natural person or persons to whom the company's direct or indirect ownership is ascribable, the beneficial owner shall be considered as being the natural person or persons to whom, ultimately, its control is ascribable by virtue of:

• the control of the majority of the voting rights at ordinary shareholders' meetings;

• the control of votes sufficient to exercise a dominant influence in the ordinary shareholders' meeting;

• the existence of particular contractual constraints that allow a dominant influence to be exercised.

In the event of the customer being a private legal person, as referred to in Presidential Decree no. 361 of 10th February 2000, beneficial owners are cumulatively identified as:

• the founders, if alive;

• the beneficiaries, when identified or easily identifiable;

• the holders of powers of legal representation, management and administration.

If the application of the above criteria does not allow for the univocal identification of one or more beneficial owners, the beneficial owner coincides with the natural person or persons holding, in accordance with their respective organisational or statutory structures, powers of legal representation, administration or management of the company in any case different from the natural person.

Definition of a politically exposed person

Politically exposed persons are natural persons who hold or have ceased to hold prominent public offices for less than a year, as well as their relatives and those who have well-known close ties with them.

Natural persons who hold or have held high public offices are those who hold or have held the office of:

• the President of the Republic, Prime Minister, Minister, Deputy Minister and Secretary, Regional President, Regional Ministers, Mayor of a provincial capital or metropolitan city, Mayor of a municipality with a population not less than 15,000 inhabitants, as well as similar roles in foreign countries;

• member of parliament, senator, European parliamentarian, regional councillor and similar offices in foreign countries;

• member of the governing bodies of political parties;

• judge of the Constitutional Court, magistrate of the Court of Cassation or of the Court of Auditors, councillor of State and other members of the Administrative Justice Council for the Sicilian Region as well as similar offices in foreign countries;

• member of the governing bodies of central banks and independent authorities;

• ambassador, chargé d'affaires or equivalent positions in foreign countries, officer of high rank of the armed forces or similar offices in foreign countries;

• member of the administrative, management or control bodies of the companies controlled, even indirectly, by the Italian State or by a foreign State or held, predominantly or totally, by the Regions, by provincial capitals and metropolitan cities and by municipalities with a total population not less than 15,000 inhabitants;

• general manager of local health authorities (ASL), of a hospital, university hospital and other National Health Service organisations;

• director, deputy director and member of the management body or person carrying out equivalent functions in international organisations.

Relatives of politically exposed persons are: the parents, the spouse or the person in a civil partnership or de facto cohabitation or similar arrangements to the politically exposed person, the children and their spouses as well as the persons in civil union or de facto cohabitation or similar arrangements with the children;

The following are subjects with whom politically exposed persons are known to have close ties:

• natural persons who, pursuant to this decree, jointly with the politically exposed person, hold the beneficial ownership of legal entities, trusts and similar legal institutions or that maintain close business relations with the politically exposed person;

• natural persons who only formally hold total control of an entity well-known for being incorporated in the de facto interest and to the benefit of a politically exposed person.

Open Banking

Open banking is the sharing of data among different players in the banking ecosystem, made possible by the European Payment Services Directive (PSD2). Entering into force on January 13, 2018, PSD2 has fostered the creation of innovative financial services. For example, it has allowed third parties (called AISPs - Account Information Services Providers) to access current account information, such as balances and movements, where authorized.

When you apply for financing with AideXa Bank, we ask you to authorize our partner Experian Ireland, acting as AISP, to read the information that will be processed to assess your creditworthiness.

This way, you will not have to upload any documents. We are the ones who retrieve all the information we need to proceed with your application and give you feedback.

Find out more:

What happens when I connect the accounts? (in Italian)

PSD2, all the details (in Italian)