The identity verification service is an affordable, easily accessible service to accountable institutions in order to decrease their KYC risk and exposure by accessing multiple databases to confirm customer FICA requirements.

This system will reduce cost and complexity of the FICA / KYC process for institutions and members of the public by way of hosting information.

Features and advantages

• Easily accessible service:
  
  An affordable service which decreases KYC risk and exposure.
  
   

• Multiple data sources queried:
  
  Convenience to user because of the variety of ways to validate a client.
  
   

• A central point:
  
  Easy access to one source for info which minimises the cost of database access.
  
   

• Flexible query levels will be available:
  
  Because of the variety of query mechanisms, there is a variety of ways in which to validate clients.
  
   

• MIS information on trends:
  
  Monitor and evaluate markets and clients by providing relevant information and reduce risks and costs.
  
   

• Various access methods catered for (web, online, batch) audit information:
  
  The user gets ease of use with options to access and utilise the service anywhere with various choices.
  
   

• Reduced cost for compliance:
  
  Affordable and cost savings for the institution.