Industry-leading identity verification now available for KYC checks
We are delighted to announce the launch of our new KYC check service! Following an increasing number of requests, we’ve added PEPs & Sanctions and address verification checks to our identity verification services to provide an all-in-one service to support your AML compliance. Here’s a quick summary of our new KYC service:
What is included?
Identity document verification
The first step in our basic KYC check service is the validation of a government-issued identity document. We believe that this is the most critical step in any KYC check process.
With our online validation services, you can capture an image of your customers’ identity document from anywhere or even ask your customers to capture an image themselves.
Basing your KYC checks on these secure documents is the strongest foundation for your AML compliance and gives you confidence that the customers you are dealing with are who they say they are.
PEPs and Sanctions and Address Verification
Alongside our industry-leading ID check, we now offer the option to add additional services to support your risk-based KYC checks. These include:
- a check to find out whether any client is matched with a PEP or Sanctions list
- an address match with your customers’ claimed name and address matched against at least two external data sources
Biometrics check
Depending on your fraud risk, you may ask your customer to capture a selfie as part of their remote ID check. Our biometric check ensures that the selfie is of a live person and that it matches the image of the person in their identity document.
Who is it for?
Our straightforward KYC check is suitable for regulated businesses of all sizes. We have already seen lots of interest from organisations looking for a reliable solution with a low-cost of entry, including accountants, lawyers, solicitors and estate agents.
As our service is offered on a credit-based system with a low minimum order, we offer a great option for those businesses who need to scale their volume of checks up and down as their needs change or grow.
In summary, our latest service can play a valuable role in your risk-based approach to AML compliance, providing a robust but easy to use KYC and counter-fraud check:
- Proof of photo ID which has been verified
- Biometrics check – selfie is live and is the same person in the ID document
- Name checked against PEP and sanction lists
- Claimed name and address matched against at least two external data sources
Want to find out more?
If you’d like to discuss how remote identity checks could support
your AML compliance, please get in touch.
We’d be happy to arrange an online demo.
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March 12, 2018
As you probably know, anti-money laundering (AML) regulations state that your first step should be to perform an appropriate level of identity check to satisfy ‘Know Your Customer’ (KYC) requirements. This most often starts by the person being asked to produce some form of official documentation to prove their identity.
Putting identity document checks at the heart of your KYC checks
Tony Machin
November 10, 2020
A KYC check is a mandatory process for regulated business to identify their customers and gather knowledge of their background as part of Anti-Money Laundering compliance. Effective KYC checks rely on proving that customers are who they say they are. The most important first step in this process is the verification of a government issued identity document.
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Want to find out more?
We’d be really happy to chat through your requirements and offer advice on the best service for your business.
Tel: 0118 466 0822 or email us.
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