Customer verification is an extremely crucial process in sensitive sectors like Banking, Financial services and Telecom given the stiff regulatory environment and mandatory adherence to the regulator guidelines. Ignorance and avoidance of compliance could result into serious frauds , delisting of businesses and in some instances national security. World over governments have enacted serious legislations in order to combat the rising threats of money laundering and terrorist financing activities. In almost all the countries, it is mandatory to physically verify customer and the documents collected from her under the ‘Know Your Customer’ (KYC) process.Automation and digitisation of physical verification process is the only way to eliminate operational, credit and fraud risks ensuring that only a ‘verified’ customer is on-boarded as per the approved business policies within a specifiedTAT (Turn Around Time) at reduced cost.
mVerification is a solution to facilitate the field verification agents to capture and transmit the customer identity and address documents real time using mobile applications, eliminating any chance of loss of information,TAT compliance and savings in courier and other administrative expenses while complying with the mandatory guidelines.
Faster Turn Around Time
Real time and efficient tracking of field activities
Real time report update
Increase in productivity
Reduced operational costs