GVX Consulting global - TECHNOLOGIES

Anti-Money Laundering (AML) & Know Your Customer (KYC)

Identification and KYC

The significance of “Know Your Customer (KYC)” is becoming increasingly important.

The options for business transactions on the internet would appear to be absolutely infinite. That’s why it’s important to know who you’re doing business with. Many companies want to reach their customers where they are at any given time – at home, out and about, in branches and, preferably, without having to worry about opening hours. The most convenient way is online. However, in doing so, ensure that you “know” your customer and rule out attempted fraud as far as possible. If so, then it’s a win-win business for both parties.

Since the approval of video identification in compliance with the Money Laundering Act in Germany in 2014, many companies who are subject to this regulation, such as banks, opt for this way of doing digital onboarding. It offers both you and your customers’ many advantages. We started developing our Video Verification solution in compliance with the Money Laundering Act back in 2012. Our patented process is regularly checked by auditors.

Money Laundering Act

The Money Laundering Act is a piece of national legislation. Compliance with this law is monitored in each country by the corresponding Supervisory Authority.

We are actively in contact with European Supervisory Authorities and jointly participate with established sector associations in the security and continued development of digital identification processes. Each EU Member is introducing video identification at a different point. The experience of the individual states with this system differs accordingly. It can, therefore, be very interesting to take a glance beyond national borders. Should you require information on the Money Laundering Act regulations in a specific country, please contact our colleagues at sales@gvxconsulting.com

We meet all requirements for video identification in compliance with the law in Europe

Meet the IDnow Platform

The platform that has the flexibility and capability to meet all your KYC needs.

Seamless user experience.

Our platform seamlessly integrates into your digital workflow across desktop, tablet, and mobile to provide the very best on-boarding user experience for your customers, and enhanced conversion rates for your business. Use our powerful API to integrate IDnow into your customer onboarding workflow.

Flexible verification workflow.

From fully automated identity verification to semi-automated, agent-assisted verification, our platform provides the full range of verification services you need. With flexible platform architecture, you can achieve the verification certainty that your business, and regulatory environment, requires in the best way for your customers and brand.

Future proof architecture and technology.

Our platform architecture integrates the latest in verification technology. And, with AI-powered facial recognition, computer vision, and fraud detection technologies, you can be confident that you’ll stay ahead of user expectations and the competition.

Global reach to over 7Bn consumers.

With artificial intelligence-powered algorithms and a unique document database of real-world data, IDnow enables you to verify the identity of more than 7 billion consumers from over 193 countries using their passport, driver’s license or government-issued identity document.

Comprehensive Regulatory compliance.

With our platform, you can be confident that your digital workflow meets the online Know Your Customer (KYC) requirements across Europe, and beyond, whether you’re a bank or a car-sharing service. See the full list of national and international regulations.

Markets we Serve

Financial

Automotive

Travel & Tourism

E-Commerce

Telecoms

Insurance

Crypto Currency

Recruitment

Gaming

AutoIdent, VideoIdent & eSign

Three Products that make your ID verification journey simple.

The IDnow platform is the only verification service you’ll need to onboard customers quickly and confidently. The platform has the capability and flexibility to meet all your KYC needs. Your solutions or products should not only be available online but also on mobile. After all, transactions are nowadays increasingly finalised using mobiles. We’ve taken this into account in the development of our products VideoIdent, AutoIdent and eSign. They can be used both via the web and by the iOS and Android app. Apart from outstanding usability, in the many markets we serve, regulatory factors are also of paramount importance.

Our Intuitive AI-powered solution enables you to quickly and dependably verify your customers’ ID.

Deep ID recognition intelligence ensures highly effective authentication and total compliance with KYC requirements.

AutoIdent provides optimum fraud prevention in conjunction with unparalleled conversion rates and comprehensive compliance. Our hybrid identity verification solution combines the best of humans and machines. We leverage state-of-the-art machine learning technology and a network of identity and fraud specialists to enable you to increase your onboarding rates – while keeping fraudsters at bay.

Maximize conversion rates.

Achieve best-in-class conversion rates.

  1. Outstanding usability – We design and build identity verification solutions with excellent usability – reflected in our top ratings on Trustpilot, Google Play Store, and Apple App Store.
  2. Customer-friendly – Artificial intelligence and machine learning ensure a first-class customer experience. We eliminate unnecessary user input by automatically capturing key data from ID documents. In other words, our AI does the “heavy lifting” for your customers.
  3. Reliable – We deliver reliable results – each and every time. Even when a manual review by one of our ID specialists is required, you can be sure of quick, reliable results.
  4. Rapid response – Results are typically delivered in real-time. Even if manual intervention is needed, outcomes are delivered within a few minutes.
  5. Omni-channel integration – Incorporate your chosen solution into a mobile app, website or at the point of sale.
  6. Ideal for global deployment – AutoIdent is designed for a connected world and capable of identifying people anywhere, anytime.
  7. Exceptionally high conversion rates – Typically, from 70% to over 90%.
  8. Global document support – Supports a multitude of document types such as passports, driver’s licenses, ID cards and many other documents around the globe.

With IDnow’s Video Verification you can verify your customers’ identity within a few minutes – it’s easy, secure and in compliance with the law.

Our EU-patented solution results in a clear increase in conversion rates compared to traditional offline procedures. It combines AI-based technology with the expertise of highly qualified ident specialists.

All the customer needs is Internet access, a computer with a webcam, a smartphone or tablet and their valid identity document. VideoIdent enables identification by video chat whilst considering all the requirements outlined in the Money Laundering Act, data protection directives and the requirements laid down by the respective supervisory authorities (e.g. BaFin, FIAU, FINMA or FMA).

Advantages for you.

  1. Higher conversion rate.
  2. Highest security standard & legal compliance.
  3. Customized integration capability.
  4. Improved quality of your customer data.

 

Advantages for your customers.

  1. Anytime and anywhere.
  2. No additional hardware.
  3. Easy and quick in a few minutes.
  4. Real-time processing of the request.

 

Regulatory requirements.

VideoIdent is a solution that complies with the Money Laundering Act. In Germany, for example, it is governed by BaFin, in Malta by FIAU, in Austria by FMA and in Switzerland by FINMA, We meet all legal requirements for most European countries.

Implementation.

VideoIdent and IDnow eSign can be incorporated individually into your IT landscape.

During your implementation we are happy to support you in workshops, remotely, or on your premises.

With IDnow eSign you can sign contracts with your customers online. Instead of requiring a handwritten signature, a qualified electronic signature (QES) is created. It is equally valid from a legal perspective.

In just a few minutes, IDnow eSign enables contract conclusion without media disruption or additional hardware.
All the customer needs is Internet access, a computer with a webcam, a smartphone or tablet and their valid ID document. The customer will first be identified before being taken directly to the contract signing. Everything happens within the same process. That creates a great user experience which in turn increases the conversion rate significantly.

Advantages for you.

  1. Higher conversion rate.
  2. Highest security standard & legal compliance.
  3. Customized integration capability.
  4. The customer relationship starts immediately.

 

Advantages for your customers.

  1. Anytime and anywhere.
  2. No additional hardware.
  3. Easy and quick in approx. 5 minutes.
  4. VideoIdent and eSigning are seamless within the same process.

 

Many sectors are faced with the challenge of digitalizing their business processes. With the qualified electronic signature (QES), you offer your customers a completely digital process. Thus, you do not have to print out the contract, sign it and send it, but rather you can start the business relationship immediately.

The QES, which is often legally required, benefits the security of both parties, particularly in the finance, insurance, telecommunications, automotive and eCommerce sectors.

eSign also offers a “wallet” feature. This allows users to sign additional contracts electronically without having to identify themselves a second time. The wallet feature can be initialized via the Web and the app and later used further on the Web. Identify yourself once with IDnow and later sign other contracts digitally – without additional identity verification.

Regulatory requirements.

The certificate and the qualified electronic signature (QES) will be issued by our partner DocuSign.

Throughout Europe, eSign is governed by the EU regulation eIDAS, as well as nationally applicable signature legislation. We meet all legal requirements.

Implementation.

eSign can be incorporated individually into your IT landscape. With our professional services, we adapt our solution to your requirements.

Compliance with Regulations

Complete compliance with the strictest requirements.

The IDnow platform is the only verification service you’ll need to onboard customers quickly and confidently. The platform has the capability and flexibility to meet all your KYC needs. Your solutions or products should not only be available online but also on mobile. After all, transactions are nowadays increasingly finalised using mobiles. We’ve taken this into account in the development of our products VideoIdent, AutoIdent and eSign. They can be used both via the web and by the iOS and Android app. Apart from outstanding usability, in the many markets we serve, regulatory factors are also of paramount importance.

We comply with the extremely stringent requirements of the GDPR.

Be sure your identity data stays within the European Union: Our resources and activities are located entirely within the European Union, including our IT infrastructure, IT professionals and ident centres.

Platform Benefits

Designed for Enterprises

Profit from a solution developed specifically to meet the needs of your enterprise.

Using our robust API, you can integrate AutoIdent in a way that works best for your business and your customers. Moreover, AutoIdent can be seamlessly incorporated into multiple channels, includes mobile applications, Internet and physical locations, ensuring customer satisfaction.

Your own customer success team.

A dedicated account manager and a customer success manager, service professionals who support the optimal integration and utilization of our solutions.

Reliable, transparent delivery with SLAs.

Measured, reported and fulfilled.

Ready for a security audit at all times.

We have undergone and successfully passed hundreds of client security audits – and we are happy to be audited by your organization, too.

One-time API Integration.

Integrate our platform API just once and benefit from a comprehensive, seamless solution to all your identity verification needs.

Data analytics.

We provide you with a powerful reporting portal that can be tailored to your individual needs.

We provide a complete portfolio of operating models: full-service (including ident specialists), software-as-a-service and on-premise.

Prevent Fraud

Ensure reliable onboarding and avoid financial and reputational damage.

We have market-leading technology for verifying the authenticity of documents and people’s identity.

Ensure reliable onboarding and avoid financial and reputational damage.

We have market-leading technology for verifying the authenticity of documents and people’s identity. 

  1. Security checks using artificial intelligence – Best-in-class biometric checks and video-based liveness detection protect you from identity fraud.
  2. Superior results through video-based technology – Our entire platform is built on video rather than still images. This means that all security checks are executed based on hundreds of images, rather than just a static image. This process results in absolute security.
  3. Hybrid process: The best of humans & machines – Our human ident specialists assist in instances where intervention is required.

False Acceptance Rates

False acceptance rate (FAR) of just 0.05% – i.e. the proportion of idents the system reported as a success/authentic which were later revealed to be fraudulent. Meaning, the true positive rate (TPR) that the IDnow AutoIdent system reported as a true positive is 99.95%.

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