There are many different factors to consider when adding security to online access for customers. In some industries, this KYC and AML technology is required, while it is optional in other industries and for different companies.
In the banking industry and financial companies, AML (Anti Money Laundering) and KYC (Know Your Customer) are mandatory for compliance with international security requirements. In these types of applications, the user authentication software selected has an impact on all aspects of online security for both the company as well as the customer.
Ability Read Documents
Financial institutions or companies with a global presence, of those considering a move into international locations, need to look closely at the ability of the user authentication to handle identification and documents from around the world.
Many software applications only read and provide support for the larger industrialized countries, which creates problems in other areas of the world. By choosing a software solution that has support in biometric face match as well as document scanning, the option to move into new markets is not hindered by a lack of ability to verify AML and KYC requirements.
Real-Time Results
Real-time results in verifying the customer is live and the authorized person to access the account or information is essential. This is also true for setting up accounts remotely, with user authentication eliminating the risk of fraudulent accounts.
GDPR Compliant
Companies are moving to complete GDPR compliance on the protection and privacy of data. This is required for companies in the European Union, but it is also becoming more critical outside of the EU. This compliance is sure to become more of a factor as data privacy becomes a focus on a global scale.
For more information on the user authentication technology used by us, visit us online. Details on all of our AML and KYC solutions can be found at website
