ID-Pal is a Finalist at the USA Banking Tech Awards in Digital Trust category

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ID-Pal has been shortlisted at the 2024 USA Banking Tech Awards in the Digital Trust category. Recognising the outstanding achievements and successes in the banking & fintech industry across the United States, the Banking Tech Awards are the pinnacle of recognition, commending the forward-thinking pioneers who are propelling the industry into the future. Organised by FinTech Futures, the evaluation process is rigorous, with a panel of judges consisting of leading experts in the field, ensuring the highest standards of assessment so to be shortlisted is a great achievement.  

Check out the full shortlist here.  

ID-Pal’s Identity Verification solution enables banks and financial institutions to address the many challenges they face today in terms of:  

  • Verifying the identity and legitimacy of individuals from different jurisdictions  
  • Ensuring a seamless and efficient KYC compliance process  
  • Fulfilling regulatory obligations and mitigating risks 
  • Anticipating fraudulent activities that may occur 
  • Maintaining audit trails to show their commitment to due diligence and being compliant  
  • Reducing manual effort, paperwork, and the potential for human errors  
  • Provide their customers with a secure and seamless onboarding process with the best user-experience.  

What makes ID-Pal different?  

ID-Pal distinguishes itself from other market vendors by being 100% AI-powered to deliver real-time verification results combined with an unwavering commitment to data security – ID-Pal has zero access to customer data. It’s configurability, coupled with strict adherence to AML and KYC regulations and unrivalled data security standards, makes it the dependable choice for banks and financial institutions aiming for robust compliance and accuracy in customer onboarding. 

ID-Pal delivers several other business benefits including:  

Seamless User Experience: The user-friendly functionality of ID-Pal’s platform contributes to a positive user experience with its transparent and convenient process enhancing the customer onboarding experience.  

Fraud Prevention: By leveraging advanced technologies, ID-Pal helps banks and financial institutions detect and prevent fraudulent activities.   

Operational Efficiency: By utilising real-time verification and smart workflows the solution significantly improves back-office efficiencies and enhances the customer onboarding process with industry leading accuracy. With a 98% accuracy rate of real-time document classification and access to our industry-leading datasets, our solution delivers superior outcomes while reducing the burden and resources in handling false positives.  

Regulatory Compliance & Risk Mitigation: ID-Pal enables banks and financial institutions to demonstrate compliance with regulatory requirements by providing evidence of due diligence efforts by conducting thorough screenings, audit trails and reports, enabling them to mitigate risk, protect their reputation and avoid any costly penalties.   

Advanced KYC & AML Screening: By integrating real-time automated identity checks, document authentication, and AML/KYC screening, banks and financial services providers can identify and mitigate the risks associated with these individuals and ensure compliance while minimising the risk of non-compliance penalties and legal disputes.  

Omnichannel: Banks and financial institutions can customise in just a few clicks the end-to-end user experience via a no-code platform enabling a tailored identity verification process across your customer channels, product types and jurisdictions.  

Winners will be announced during the awards ceremony on May 30th in New York – Find out more here: 

About ID-Pal

Winner of Best Customer Facing Experience at the Pay360 Awards, ID-Pal is an award-winning ISO 27001 certified SaaS solution that enables businesses to verify the identity and address of customers in real-time and meet their AML/KYC compliance requirements. The plug and play platform can be up and running in the same day, and is also available as an API/SDK. Customisable to the specific needs of any business, the solution eliminates the complexity, cost, timelines, and risk associated with regulatory compliance.


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