Time and time again this question has been asked, how can we establish a KYC program?
Should we go with the in-house route or external?
Don’t bother with the in-house route, too time-consuming, much can go wrong and we need to onboard the client pronto!
Let’s go with the external route then, but there are so many providers out there, so how do I choose? Yes, they all have their own pre-requisites, but we gotta start somewhere right.
What if I tell you that, Shufti Pro offers a complete solution for KYC compliance. Hey, don’t assume too quickly, lets read out the whole piece and we’ll leave the assessment for later.
Let’s see what they have to offer differently over others!
A little Background goes a long way
The service provider saw inception a few years ago but was involved in the FinTech industry before that.
The company started off with only KYC services, to begin with. However, it was later that AML or anti-money laundering measures were added to the solution that could be acquired additionally or paired with traditional services.
Ever since then, the company has never looked back and continued its upward trend and established a healthy name for itself in a short span of time.
What You Get From Shufti Pro
The service provider offers the same KYC services that most other identity verification service providers offer but plays a bit different in comparison to others:
A complete Identity Verification Suite
Shufti Pro provides Identity verification as it’s hallmark service to most of its clients, which constitute of two individual component services.
One, face verification and second document verification. Where identity verification is the process that performs both these elements in synchrony to ideally identify and verify the intended individual in question, claiming to be who they say they are.
This involves the process of verifying the identity particulars of an individual through template-matching with that of either existing entered PII information or automated database sources.
The document of the individual also undergoes scrutinization for doctored elements, form and forgery checks.
All in addition image checks being matched in real-time to that found on the identification document. The best part, the results are all provided within 60 seconds.
A complete AML suite
Most anti-money laundering regulations require the perception of an individual from a risk-based approach.
This includes making sure whether the person being onboard is not in any form politically exposed, or under adverse media lists. This also includes if the individual is part of any known global or domestic watchlists.
This provider is surely not the only provider out there, there are many more which offer different significant advantages over the other.
However, Shufti Pro offers a complete solution for KYC compliance with a sense of scalability unlike others, which is much required in a highly regulated compliance market.
In addition to this, the provider is able to service coverage of documents that span over 200 countries in addition to their languages for optimal user convenience and cross-border digital transactions.