Use Cases: 5 examples of using ID-Pal
In-person ID&V
Remote ID&V
In-person Off-site
Broker Model
Customer Backbook
IN-PERSON IDENTITY VERIFICATION
Onboarding customers in-person becomes a quick and convenient process for both the business and the customer. Customer onboarding information is captured and verified in minutes!
Significantly more efficient and convenient for both the business and the customer
Time taken to complete the process is reduced to minutes
Avoid errors re-typing information into multiple systems with a single point of capture
Securely generated and stored Client Due Diligence reports further improve compliance with data protection regulations
Saved time enables staff to focus on providing value to the customer rather than executing cumbersome, paper based manual processes
Avoid driving up back office costs due to lengthy onboarding processes
Multi-layered verification enhances the robustness of back office AML/KYC compliance
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“ID-Pal has really streamlined our onboarding process and the customer service from their side is excellent.”
— Francois van Heerden Business Development and Client Relations Manager
REMOTE ID&V AND CUSTOMER ONBOARDING
Customers experience a significantly improved onboarding experience as they are able to complete the process anytime, anywhere. Using the app, customers capture and securely submit their identity documents and information at their own convenience. It takes less than a minute!
Extremely convenient customer experience
Customers can complete the onboarding process anytime, anywhere—even from the comfort of their own home!
Convenient experience significantly decreases the customer drop-off rate
Customers can submit additional/forgotten documents quickly and easily, at their own convenience
Customers do not need to go to a branch in-person
Customer submits their identity documents directly from their mobile device or tablet
Submission of documents takes less than a minute
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“Other providers were offering to phase in a solution over a period of months. But we needed to onboard customers digitally as soon as possible. Using ID-Pal we were up and running, it was seamless. Advertising that the joining process takes just five minutes is a competitive advantage and a unique selling point.”
— Kevin Rooney Marketing and Digital Acquisition Manager
IN-PERSON OFF-SITE
An extremely efficient and effective solution for onboarding customers face-to-face when you are not in the office. Business representatives, brokers and other members of your financial network can onboard customers anytime, anywhere.
Onboard customers on-the-road anytime, anywhere—at conferences, trade shows, exhibitions etc.
Convenient for business and customer
Using the Business App, businesses can onboard customers in seconds
Drives up the number of new customers by providing an onboarding solution for any occasion
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“Our clients are extremely impressed with the new digital onboarding solution and the fact that our firm is progressive enough to make use of such cutting-edge technology”
— Francois van Heerden Business Development and Client Relations Manager
FINANCIAL ADVISOR NETWORK MODEL (BROKER)
A solution that is unique to ID-Pal, the Broker Model enables a business’s network of brokers/financial advisors to complete the customer onboarding process whilst leaving the verification and approval process in the hands of the head office.
Enable a network of financial advisors/brokers to onboard customers quickly and easily
Customer identity documentation is captured in minutes
Head office uses the ID-Pal portal to thoroughly verify and authenticate submissions using a suite of industry-leading technologies
A comprehensive Customer Due Diligence report is generated with key customer identity information
Robust AML/KYC compliance
Network can efficiently onboarding customers inperson anytime, anywhere using the ID-Pal Business App
Identity information is securely submitted directly to the head office
Review and approval of submissions takes seconds
CDD report is securely saved and can be viewed 24/7
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“Following the implementation of extensive regulation over the last number of years, Investment firms, Financial Advisors and their clients have been spending a significant amount time carrying out the customer onboarding process, which at times is frustratingly slow and reducing client activity. With the assistance of ID-Pal, BCP’s onboarding process is very quick and user-friendly, and has significantly reduced the time input from all parties involved.”
– Colman Phelan Intermediary Directory BCP Asset Management
CUSTOMER BACKBOOK
The process of updating back books does not have to be an expensive source of frustration for the business and the customer. Using ID-Pal, KYC credentials can be updated affordably in just seconds. In two clicks the customer captures the relevant documentation and securely submits their information to the business where it is verified and a client due diligence report is generated.
Updated KYC credentials provided in seconds
Manual processing reduced to seconds
Robust and cost-effective AML compliance
Significantly increased customer response rates
