Customer Verification Biometric Facial Recognition

May 13, 2020  |   AML Legislation updates,General News & Cases   |     |   Comments Off

New Service – Customer Verification Biometric Facial Recognition

Under COVID-19 social distancing rules, many prospective clients are no longer able to present their documents in person, while sending them through the post brings a whole new set of issues. With continuing restrictions on personal in place to stop the spread of coronavirus means firms that rely on paper-based ID checks are facing huge business disruption.

Not only is it now almost impossible to get to a post office under the new rules, but sending physical documents also risks contamination. And with so many people now working from home, there is the added risk associated with sending sensitive personal data to the home addresses of staff.

Electronic verification (EV) solves all these issues, enabling regulated firms to carry on serving clients without any further disruption.

‘Customer not present’ under the Money Laundering Regulations is a higher risk indicator to be taken into account on your customer risk assessment and take steps to mitigate that risk

We are now pleased to be able in addition to our usual EV solutions add Biometric Facial Recognition to the customer onboarding process for both UK and overseas individual checks.

This additional element combines both verification of a government issued document which if you have  a good copy of you can load directly from your computer or send an upload link to your client via a free SMS message which is required for the Facial Recognition element, the results include both document check and facial recognition results as well as your normal AML UK residential report.

These two additional stages of verification use very high tech software and processes and as such come with a cost. This additional element of will be charged at £15+vat in addition to your normal UK search rate, for example you pay £5+vat per search an additional £15+vat will be added making a total cost of £20+vat.

This offers incredible value for both you and your customers in completing the on-boarding process in these difficult times, under proposed UK Government consultations this is likely to become the preferred method of verification.

Please contact us to ask for more details or a quote.

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