Defeating fraudulent attempts is a constant challenge for even the established business brands in the financial sector all until now devoid of a reliable and super identity verification process. Latest artificial intelligence and biometric technologies are state-of-the-art provisions for a user-friendly identity verification process. Banks prefer to deal with IDnow services for the same reasons.
The remote new account boarding facility that is provided for the financial services companies is why Identity verification solutions can be really helpful in screening remote users for their genuine profiles. Simplifying and expediting the online verification process becomes a requirement for financial service companies that deal with remote customers most of the time. Imagine the amount of money that you have to spend to open branches in different parts of the world.
Expediting Remote User Accounts
On the contrary, when you are going to accelerate the digital transactions while using the identity verification software, it is easy for you to do the expediting of the online remote user account transactions and, at the same time, cut down the time taken in the onboarding process. In that way, wealth management becomes an easier process.
Credit card fraud is one of the most important concerns for financial service companies and banks in the past couple of decades, despite the development in the field of technology. Even though digital transactions have accelerated by and large with very many banks and financial institutions in the developed nations, there are still credit card frauds as well. There is a better possibility when the verification process is done to seamless precision.
Prevent Credit Card Fraud
To avoid credit card fraud, it just takes a few seconds while using the link provided by the identity verification solutions. It is not only to avoid credit card fraud but also in multiple situations like checking the authenticity of the debentures and bonds as well as fixed deposit certificates of the banks. Online transactions are increasing. Every single day with most banks and financial institutions provides mortgage loans and payday loans.
Especially when you are going to offer unsecured loans where the collateral has minimal pledge, you should be scrutinizing the documents and verifying the profile of the candidate. If this process is going to take a lot of time, then that can affect your prospects’ customer conversion rates. On the other hand, when you are using the identity verification software, this process is going to be frictionless, and you can completely comply with the regulator’s terms and conditions at the same time as well. The key is to enable seamless financial transactions while meeting KYC/AML requirements.
Free demo videos are available for a better understanding to showcase how IDnow services help hundreds and hundreds of big business brands in the financial sector currently. Meeting your regulator-compliant terms, through faster and secured ID verifications, for implementing anti-money laundering, protocols becomes easier in that way. Manual audits are conducted regularly to prevent fraud where the bio-metric recognition service is utilized efficiently. The services are supported for most of the global destinations.