- by Patrick Cooney on 30/08/2021
Electronic Identify Verification or EIDV has revolutionised customer on-boarding, KYC and AML by greatly reducing the workload and time it takes to manually verify the identities of customers - whether for account opening, loan applications or pre-screening in anyway. Not only this but faster and more automated onboarding allows for easier case management, quicker decisions and happier customers!
CRIFVision-net has created our own unique and feature-rich EIDV solution: IDVerify and it's here to help you deliver a fully digital and secure on-boarding experience to your customers, using the newest and most state of the art technology available.
Right from within your existing CRIFVision-net account, IDVerify will enable you to easily and quickly manage the identity verification of your customers. Using our new onboarding platform: the DigitalHub, you can upload a customer (or a batch of customers), request a IDVerify report, view results and manage responses with ease. Throughout the onboarding process you have full control while also allowing the system to manage responses automatically - alerting you when new reports become available.
With over 99% accuracy IDVerify is more effective and less expensive than paper or F2F KYC, it's a no brainer compared with traditional onboarding processes. Starting the onboarding journey with IDVerify for your customer couldn't be easier, by just clicking on a link contained within a customisable email or SMS message and they can open an account or apply for credit anywhere, at anytime.
With a simple video selfie and picture of their passport or driver's licence, IDVerify uses state of the art technology like 68 point face comparison, biometric and liveliness checks to ensure the customer is who they say they are. Anti-tamper checks are initiated on ID, while OCR robots extract customer data into a useable format that is automatically populated in your DigitalHub, to reduce manual input by your team. This happens in a single second, giving you clean, accurate, actionable data, verified by your customer.
As well as identity checks, IDVerify allows you to collect numerous different types of documents like Utility bills for address verification, Payslips for income verification and much more, in seconds and without the need for the customer to physically bring the documents to you.
If ID verification is not needed - no problem, use IDVerify for document collection only!
Many of our user's processes include the need to run more than just one check on their customers and for this reason CRIFVision-net has built our existing data sets into our IDVerify reports to allow you to run financial background checks (CCI) and PEPS/Sanctions checks on your customers too. At the same time when you are running an IDVerify report on your customer you can opt to run a CCI and PEP check simultaneously.
All these separate reports are delivered to your DigitalHub, where your teams have instant actionable insights on your customer's journey, with minimum effort. Simple colour coded icons provide instant progress updates and visibility.
The DigitalHub also reduces your GDPR burden by allowing you to track and record all KYC activity with a full audit trail and the ability to set PII and user-access controls.
So what are you waiting for? If you are involved with customer onboarding in any way, IDVerify is for you! Get in touch with our team today to organise your advance preview of this innovative new service:
Phone: 01 903 2660
A new kind of software has entered the market and it is becoming one of the most important tools in the financial technology space due to its efficiency and intelligence.