GetID has a solution for identity verification that helps to reduce compliance risk and allows brokers and traders to automate the client’s onboarding process.
Know Your Customer (KYC) procedure is a part of anti-money-laundering (AML) legislative requirements. It is an important part of any firm’s activities, as it is required by the stock exchange regulators all around the world, and the failure to follow these procedures leads to significant sanctions.
The KYC procedure helps the companies to:
- Comply with legislation;
- Mitigate fraud risk;
- Provide more confidence to the clients.
GetID is an automated solution that uses advanced algorithms and a filtering platform for a KYC procedure that protects companies from unreliable clients.