ID-Pal is shortlisted in the UK Banking Tech Awards

ID-Pal > ID-Detect > ID-Pal is shortlisted in the UK Banking Tech Awards

[vc_row][vc_column][vc_row_inner][vc_column_inner width=”2/12″][/vc_column_inner][vc_column_inner width=”4/12″][vc_column_text][/vc_column_text][/vc_column_inner][vc_column_inner width=”4/12″][vc_column_text][/vc_column_text][/vc_column_inner][vc_column_inner width=”2/12″][/vc_column_inner][/vc_row_inner][vc_column_text]We’re happy to share that ID-Pal has been shortlisted at the Banking Tech Awards in the Best Digital Solution Provider – Identity Verification category. Celebrating 24 years of excellence and innovation in the global financial services IT sector, the Banking Tech Awards are the pinnacle of recognition. These prestigious awards commend the forward-thinking pioneers who are propelling the industry into the future. 

Securing a Banking Tech Award stands as a testament to the substantial technology investments and the remarkable skills, dedication, creativity, and execution of ID-Pal’s team. Being considered for this accolade serves as a valuable endorsement of our Identity Verification solutions, and for our teams it represents a prized acknowledgment of their continued commitment to enhancing the banking and fintech sector through technology. 

The Banking Tech Awards are organised by FinTech Futures, and the evaluation process is rigorous, with a panel of judges consisting of leading experts in the field, ensuring the highest standards of assessment. 

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 

ID-Pal delivers several 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 decision-making 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.  

Scalability and Flexibility: Our solution is scalable and can accommodate the needs of small or large banks and financial institutions, adapting to the volume of customers and efficiently handling identity verification tasks.  

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 30th November in London which promises to be a great evening with a lot of Hollywood Glamour! You can find out more here.  

About ID-Pal

Winner of Best Customer Facing Experience at the Pay360 Awards and currently shortlisted for Accounting Tech of the Year the Europe FinTech 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.[/vc_column_text][vc_row_inner][vc_column_inner]

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