The Anti-Money Laundering Act mandates firms engaging in finance and investment to implement a Know Your Customer (KYC) system to verify the identification of service users prior to conducting transactions. However, identity verification by filling out documents is a burden for firms seeking to verify information and makes things harder for customers.
To address this issue, SCB TechX has created an innovative eKYC (Electronic Know Your Customer), a digital identity verification solution that simplifies KYC. Customers can verify their identity through mobile phone, tablet, or computer anytime and anywhere by scanning their ID card and taking a photo of their face.
Reduces the complexity of procedures and costs associated with verifying and storing information.
Reduces the possibility of human errors during verification process.
Enhances the customer experience by enabling 24-hour, easy and quick verification, eliminating the need to visit business or service locations.
Verifies whether the user matches the one on the ID card and transforms service users’ ID card snapshots into digital information instantly, eliminating the need for manual data entry.
Verifies whether the user and the person in the photo are the same person.
Compares the information on the user’s ID card to the Department of Provincial Administration’s database to see if the details are valid.
Connects the digital ID platform for cross-platform identity verification, thereby assisting enterprises without direct connection to the NDID and reducing connection and administration costs.
SCB TechX offer 2 tyeps of eKYC.
eKYC authentication system with full functionalities. Our clients can integrate our platform with their own and tailor the end-user experience to their specific requirements.
This is a service that allows customers to connect their front-end system to SCB TechX’s NDID service via proxy, hence reducing the cost of eKYC-related hardware.
We have a team of professionals standing by to answer questions and assess your system’s preparedness. If you are interested in learning more about our eKYC system, please contact us at email@example.com
InnovestX is one of our clients who use eKYC to accelerate the development process and cut through the complexity of KYC.
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