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How are you verifying the identity of your customers since everything has become online and you cannot see them face-to-face? Or what’s your master plan on protecting your financial institute from thefts and money launderers? Have you got any idea? If not, don’t worry because we have found a robust and powerful tool that will help you. If you don’t want to spoil your user’s experience, you should start using an identity verification service.
This software is specially designed for financial sectors so the identity of customers can be verified easily and quickly. That’s why identity verification software is used by many banking and financial institutions. Since identity verification is so important, both legally and for the general security of your business, you cannot just choose any KYC vendor. If you want to get the most amazing experience that is worth your time and money, follow these steps and find the most trusted service provider in no time.
● Service coverage: If your financial company is operating globally, you cannot partner with a KYC provider that has a limited reach. If you want each of your customers to get a smooth experience, choose a provider who has direct access to local registries.
● Demo: Every company wants to sell its products so it promises various things at first. But you can always ask for a demo to understand the authenticity of the company. So remember to always test everything before you go ahead.
● Data storage: Each country has some rules and regulations. For example - Australia, India, and Russia have data localization laws. This means that if you are dealing with customers of these countries, the data should be kept within the boundaries. So, choose a provider that can help you with such rules.
If there is one company that you can totally trust for KYC/AML services, it is BASIS ID. It’s a leading KYC service provider that ticks all the aforementioned boxes and is serious about offering cost-effective and efficient solutions. The company was founded in 2017 with an aim to offer the most amazing KYC/AML services to the financial sector.
One thing that makes BASIS ID better than others is that this company never compromises with the quality and offers custom solutions and integrations too. Not to mention that BASIS ID is also the winner of Slush and Finnovasia. So, what are you waiting for? Contact this outstanding company today.
About BASIS ID:
BASIS ID is a leading AML KYC service provider that you can contact.
For further details, visit https://www.basisid.com/
Original Source: https://bit.ly/3bXzaDk
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Money laundering and fraud have become commonplace these days since most transactions take place through online channels. To prevent the incidences of money laundering and theft, every business must set up an AML compliance program. Such a program will help businesses spot fraudsters and make it difficult for them to get away with illegal gains. But setting up an AML compliance program with all the minimum requirements fulfilled is not enough. To create a robust and advanced compliance program you must use innovative and tech-driven tools. One of the tools that can make your AML compliance program strong is an identity screening solution.
An identity screening solution will help you identify accounts that pose a potential risk of fraud and mitigate those risks. Moreover, it will also help your business steer clear from violating compliance regulations. If your business does not employ an identity screening solution, a fraudster can get past the initial checks and would be free to launder money. An identity screening solution will help you prevent such fraudsters from bypassing your safety regulations which will provide your compliance program a strong foothold.
An efficient identity screening solution will gather all the important data and screen it against data from major government databases, international sources, and law enforcement agencies. This will help you filter out people with suspicious identities, and those previously involved in frauds, money laundering, and financial crimes, along with politically exposed persons (PEPs). Therefore, having an identity screening solution will certainly make your AML compliance program strong and efficient.
Choose an identity screening solution that is easy to use and integrate with your compliance program. Currently, there is only one identity screening solution that stands true to all tests and is provided by BASIS ID.
BASIS ID is amongst the leading companies and provides the best in class identity screening solutions. The company has created an excellent reputation as an AML KYC service provider that offers outstanding identity verification solutions. The latest software provided by the company has fast integration, fast online identity verification, and fast support. BASIS ID identity verification software scans the identities against major government databases from across the world under a few minutes. So, don’t hesitate! Make your AML compliance program stronger with BASIS ID identity verification software. Contact them now to know more.
About BASIS ID:
BASIS ID is a leading AML KYC service provider that provides advanced and robust identity verification software solutions.
For more information, visit https://www.basisid.com/
Original Reference: https://bit.ly/2PBMRO1