Lerex Technology is an E-money as a Service solution provider that enables businesses to offer next-generation payment systems to their customers. The platform’s services include prepaid cards, digital accounts solutions, and access to payment rails such as Faster Payments and SEPA. Lerex prides itself on leveraging cutting-edge technologies, an easy-to-use API for efficient connectivity and integration, as well as delivering world-class customer service, allowing business payments and consumer challenger banks to come to market quickly and easily.
KYC, PEPs & Sanctions Checks
For all onboarded parties, business- or consumer-based, it was necessary to complete KYC, PEPS, and Sanction checks. For business-based programmes Lerex had additional requirements such as reporting needs and compliance checks on the Business UBOs, Directors and, the card holders.
Customer Onboarding
While ensuring they were meeting all compliance requirements, Lerex wanted to make sure that the onboarding process remained simple and convenient for its customers—kicking off new business relationships on a positive note and keeping drop-off rates at a minimum.
Integration with existing Business Processes
Lerex had existing back-office processes and software tools in place that they did not want to adjust or replace. They needed a solution that would plug-and-play with these systems without causing operational disruption.
Lerex implemented ID-Pal’s award-winning Identity Verification solution across varying types of business-based and customer-based programmes to deliver seamless customer onboarding, robust compliance, and drive operational efficiencies.
Lerex implemented ID-Pal’s award-winning Identity Verification solution across varying types of business-based and customer-based programmes to deliver seamless customer onboarding, robust compliance, and drive operational efficiencies.
Robust Compliance
ID-Pal’s technology-first identity verification solution is compliant by design. The platform uses multi-layered biometric, document, and database checks to verify customers in real-time and deliver AML and KYC compliance without the hassle. Lerex benefits from fraud protection as well as peace of mind that their customers are who they say they are.
Seamless Onboarding Process
During onboarding, Lerex’s customers complete an award-winning journey through the ID- Pal app which won Best Customer-Facing Experience for its simplicity and ease of use. The app enables customers to securely capture and submit their identity information anytime, anywhere, in seconds.
Operational Efficiencies via API Integration
Lerex implemented ID-Pal using the API integration which made the process seamless for the business and their end clients. In the back-end, the unique business portal delivers detailed and clear results that Lerex uses to approve submissions and to turn applications around in a timely manner.
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