This suite of tools and services enables verification of customer credentials when opening new accounts and subscriptions in-branch or online, reducing financial losses and the negative impact on brand reputation caused by identity fraud. Gemaltos ID Verification also helps financial institutions enhance their Know Your Customer (KYC) procedures, in line with the latest regulations, such as Anti-Money Laundering Directive (AMLD4).
The process comprises verification of documents such as ID cards and passports for forgeries and other discrepancies, biometric and/or visual customer authentication, and immediate background and risk assessment checks against relevant databases and watch lists. It can be performed by branch staff using a standard scanner or tablet. Online customers are required to photograph their ID credentials, and submit for automatic verification.
ID Verification protects enterprises against the threat of fraudsters opening bank accounts or acquiring subsidized mobile phones, for example. It can be integrated with existing infrastructures and is available as a platform or in Software as a Service (SaaS) mode to minimize initial investment requirements.
Gemalto is a company which provides technologies and services to businesses and governments, authenticating identities and protecting data.
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