Face2Face - remote KYC
Face2Face is an application that runs on pre-certified handsets. Allowing your fleet of agents to travel around the country to any remote location, to sign up and register customers with complete KYC compliance for your region. It solves fundamental acquisition problems i.e.
The collection of appropriate documents and information can be done “Anytime, Anywhere”
What is KYC?
Face2Face closes the deal immediately
Face2Face produces high quality digital registrations
Face2Face is highly secure
Face2Face can easily integrate into any third party systems
What is Face2Face used for?
What are other names for KYC?
What is KYC?
Know your Customer(KYC) is the due diligence and bank regulation that financial institutions and other regulated companies must perform to identify their clients and ascertain relevant information pertinent to doing financial business with them. In the USA, KYC is typically a policy implemented to conform to a customer identification program mandated under the Bank Secrecy Act and USA PATRIOT Act. Know your customer policies have becoming increasingly important globally to prevent identity theft fraud, money laundering and terrorist financing. In a simple form these rules may equate to answering twelve questions, but this is the tip of the iceberg and regulators now expect much more. KYC should not be thought of as a form to be filled - it is a process to be undergone from the start of a customer relationship to the end.
Face2Face closes the deal immediately
The time delay between a customer requesting an account and the bank provisioning that account is crucial. Banks waste weeks waiting for customers to send through the appropriate documentation. If they ever send them at all. In fact some sample tests we ran show that without an immediate call to action (like Face2Face) to collect the customer’s documentation only 5% of customers bother to finish the process. With Face2Face this will be a 100%
Face2Face produces high quality digital registrations
The information collected is of a very high quality since all fields are pre checked on the client before submission. You no longer need a room full of data capturers
Reduced Fraud and increased KYC compliance.
Due to the brilliant quality of the images you can manage your risk more easily. When many banks using traditional registration methods are audited for quality of the information. It is often found to be of a poor quality with smudged faxes and barely legible documents. Face2Face ensures all your customer information is of a high quality and easily viewable
Face2Face is highly secure
High levels of security – all information is encrypted using a combination of asymmetric and symmetric keys
All activity by your agents is tracked ensuring the system is completely manageable
Image and data compression to save data costs
Face2Face can easily integrate into any third party systems
Seamless integration into a number of commercial grade banking vendors
Can integrate to your contract and prepaid systems
Can be customized to your exact needs
What is Face2Face used for?
It is used by banks to register customers for bank accounts especially in developing countries and rural areas where access to facilities are poor
It is used by cellphone operators to register their customers
It is used by insurance companies to sell a range of insurance products ranging from vehicle finance to funeral insurance
What are other names for KYC?
In South Africa KYC is named FICA
In India it is called DBOD
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