we just hired a new director do I have to notify our bank

Change in management: applies to the bank, not to Supplia

Yes, you report a new manager to the bank — but that process is separate from what we do here. Banks are legally required to know who represents an enterprise, as part of their client due diligence. Once the new management is registered with the trade register, the bank usually expects a current extract and possibly new authorization to sign. That process runs through the bank's portal or relationship manager, not through a supplier list.

Where this platform becomes relevant: if a customer asks about management structure in a questionnaire — for example in a KYC-like question from a large-scale customer — then the answer "who signs on behalf of the enterprise" is exactly such a question as what the registered name of the company is or under which registration number the company is registered. Those data come from the trade register and change along once the transfer has been processed there. As long as the registration has not been updated, every answer based on it is outdated — that applies to the bank, and it applies equally to any other buyer asking about directors.

Where this follows from: Trade Register Act 2007

The obligation to report changes in management follows from the Trade Register Act 2007: directors are data recorded for every enterprise, and a change must be registered. The bank then requests, on its own initiative, on the basis of its own customer due diligence, a confirmation or extract — that is bank policy, not part of this act. For the questionnaires that run through Supplia, the following applies only: the chain file retrieves the management data from the same source, the trade register, and that answer is therefore only current again once the registration has been updated.