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New service offers convenient identity checking for regulated businesses and high-value retailers
TrustID, a leading expert in identity document verification, has launched its all-inclusive Know Your Customer (KYC) and Anti-Money Laundering (AML) service aimed at regulated businesses across all sectors and high-value retailers.
TrustID’s new service enables businesses of all sizes to meet the requirements for KYC and AML checks – including ID verification, biometric face matching, address verification, Politically Exposed Person (PEP) and Sanctions screening, and ongoing monitoring – through a single service. The straightforward software interface makes it much easier for clients to comply with money laundering regulations, avoid unknowingly assisting terrorism and organised crime, and mitigate the risk of fraud.
The new KYC and AML service is strengthened by TrustID’s unique in-house Document Expert Team – which is widely regarded as the best in the industry and is regularly consulted by other identity checking services. By combining human expertise with leading technology (including remote document uploading, AI face recognition and liveness testing) TrustID can carry out KYC and AML checks remotely – enabling clients to continue vetting customers from anywhere, even during lockdown. The service is also available as a scalable, pay-per-check service – making it affordable for businesses of any size.
Tony Machin, CEO at TrustID said: “Our clients tell us that they are looking for two things. The first is to know that they have taken all reasonable precautions against money laundering and fraud, and the second is to achieve compliance in an effective and efficient way which suits their business processes, no matter how many clients they are onboarding each year. We’ve responded to that feedback, and we now help them achieve that by combining the best of technology and human expertise into our KYC service, which is robust, convenient and extremely fast.”
Tom Branson, Director at Charterbank said: “KYC checking is fundamental to our ability to lend, and due to our short-term practices, this verification has to be done at pace. We are relatively new clients of TrustID and use several of their systems. We are extremely happy with how they have accommodated us, especially through putting systems in place to help through the pandemic. The knowledge that you can make one phone call and have any issue sorted there and then is hugely beneficial to us, as ID checking has many moving parts.”
TrustID’s new KYC service is the latest in a long line of new product releases from TrustID. The company has launched at least one new identity checking service every year since 2014 – and three in 2020 alone.
For more information on TrustID’s KYC service visit: https://hubs.ly/H0KdBbq0
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About Trust ID
TrustID offers a range of accurate, affordable and easily accessible identity verification services that protect both private sector organisations and public sector bodies such as NHS Trusts and local authorities from exposure to fraud. Its identity checking products also support compliance with a wide range of legislation, including Right to Work, Right to Rent, Anti-Money laundering (AML) and Know Your Customer (KYC) legislation.
TrustID combines leading digital technology and human expertise to provide the highest level of fraud detection and helps HR departments, compliance, security and counter fraud teams accept identity documents quickly and confidently. The scalable range of services are back up by TrustID’s analyst team who have vast, proven knowledge and experience