Automate the Customer Onboarding Process and KYC Verification

Investing in technically advanced software programs makes secure identity verification KYC compliance much simpler and more effective. You can more easily acquire vital customer information without harming the customer experience. A new account opening can be tedious and frustrating without automated processes.

The right software makes authentication of a customer’s identity easier and more thorough. They can upload a driver’s license in real-time, for instance, as well as other necessary documents.

Improve Quality of Data

Using automation and other processes can improve the quality of data you acquire. By getting documents in real-time, you are less likely to use outdated information on the account. Digging deeper into the client’s background, including searching pertinent databases and sanctions lists, will allow you to avoid clients at a high risk of criminal activity.

Utilize Biometrics

By using biometrics to verify customer identity, you can make your KYC process simpler and more thorough. Implementing facial recognition, retinal scans, fingerprint IDs, voice recognition and other biometrics makes it much more difficult for clients to give you a false identity. These processes can be implemented into your automated onboarding software to minimize customer risk.

Streamline Ongoing Monitoring Processes

Enhanced due diligence requires increased ongoing monitoring processes, which can be time-consuming and labor-intensive. Fortunately, you can now acquire software that makes processes such as AML screening automatic.