Financially regulated businesses are obligated to complete Know Your Customer (KYC) processes when onboarding new customers in order to comply with Anti-Money Laundering (AML) regulations. The KYC process involves verifying the identity of customers prior to engaging in business with them. Ensuring that people are who they say they are is a vital step in building a relationship based on trust between a business and a customer. However, businesses often struggle to balance meeting these compliance regulations with providing a simple and convenient onboarding experience to their customers.
How ID-Pal Helps with KYC Compliance
ID-Pal provides businesses with an Identity Verification solution that enables them to meet their KYC compliance requirements simply and securely, while providing customers with an award-winning onboarding experience that can be completed in less than 60 seconds. Using ID-Pal, companies can protect themselves from fraud while growing their business through seamless customer acquisition.
ID-Pal’s identity verification solution is technology-first which enables it to deliver real-time verification. Other providers may rely on Human Assisted AI, which risks delays, human error and data flight. With ID-Pal verification is secure and instant.
A truly global solution, ID-Pal covers more than 6500 Identity Documents from across more than 200 jurisdictions and delivers enhanced verification using 200 verified address data sources. ID-Pal also provides the unique ability to easily customise the app for different customer profiles and jurisdictional requirements.
Seamless and Simple
The ID-Pal customer app and unique business portal provide the easiest way to verify identities. Customers can securely capture and submit their information in seconds, using an app that is so slick it won Best Customer-Facing Experience.
ID-Pal verifies that your customer is who they say they are by leveraging industry-leading technologies that are packaged into an award-winning experience.
Each document is submitted to a suite of rigorous technical checks to ensure it has not been forged or tampered with.
Facial Matching Biometrics
Comprehensive 50-point biometric facial comparison ensures that the true owner of the identity document is present.
ID-Pal’s Passive Liveness software is iBeta Level 1 and 2 assured. Highest level of security for your business and minimal effort for your customers.
Data-base matching of customers’ name and address provides additional level of fraud protection.
We went live in under an hour with ID-Pal, it was even easier to implement than imagined. Using ID-Pal mirrors the deVeres experience: trustworthy, easy and reinforces the priority we place on security and compliance.