As I understand it, the 4thAML Directive requires...

As I understand it, the 4thAML Directive requires re-verification annually, including trusts, companies and all private individuals, be they UBO's, PSC's or Customers. Only exclusion is major stock exchange listed companies and government entities.

So, Year 2 will be 10,000 + 2500 (year 1 growth) + 2500 (Year 2 growth) merchants x 3 UBO's/PSCs per merchant x EUR 20 (?)

45,000 x 20 = EUR900k contract in second year

Not a bad side line - "Paydentity Console" - using batch initiated ex AML obligated entity(eg Borgun) instead of inline transactional initiated by End User at time of payment

This is now directly competitive with KYCKr, and creeps into their scope (whereas KYCKr cant creep into ISX scope as it uses last century solutions)